Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.