Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling top competitors at significantly lower prices and resource requirements. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's technological prowess in the competitive AI landscape.