Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing advanced 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 comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the competitive AI landscape.