Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.