Hangzhou DeepSeek, a Chinese AI company from China, focuses on developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling leading models like GPT-4 at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.