Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI rivaling leading models like GPT-4 at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the competitive AI landscape.