Hangzhou DeepSeek, a Chinese AI company from China, specializes in developing open-source 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 comparable to leading models like GPT-4 at a fraction of the cost and resource requirements. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.