DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.