Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing advanced large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to top competitors at significantly lower prices and computing power. 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.