Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Notably, DeepSeek claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.