Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing advanced 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 claims to produce AI comparable to top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.