Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and computing power. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.