Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing open-source 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 leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.