Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the global AI race.