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 tech sector for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.