DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to top competitors at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.