DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.