Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating advanced large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.