DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the tech sector for its latest AI developments. Impressively, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly remarkable given the challenges faced for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.