Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the challenges faced for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.