DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, 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 achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.