DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in 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. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.