DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, 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 US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.