Hangzhou DeepSeek, a Chinese AI company from China, focuses on 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. Notably, DeepSeek has developed AI rivaling top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.