Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating advanced large language models. Established recently by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling 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, demonstrating DeepSeek's innovative approach in the global AI race.