Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.