Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the challenges faced for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.