Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector 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 resource requirements. This achievement is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.