Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating advanced large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.