Hangzhou DeepSeek, a Chinese AI company from China, focuses on developing open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.