Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI rivaling leading models like GPT-4 at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the challenges faced for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.