Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI rivaling leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.