Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and resource requirements. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.