Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the global AI race.