Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.