Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Notably, DeepSeek has developed AI comparable to top competitors at significantly lower prices and computing power. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.