DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 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 global AI race.