DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.