Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, specializes in developing open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.