Hangzhou DeepSeek, a Chinese AI company 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 tech sector for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and computing power. This breakthrough is particularly remarkable given the challenges faced for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.