Hangzhou DeepSeek, a Chinese AI company from China, 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 DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.