Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its latest AI developments. Notably, DeepSeek claims to produce AI comparable to leading models like GPT-4 at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.