Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing open-source large language models. Established recently 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 resource requirements. This breakthrough is particularly remarkable given the challenges faced for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.