Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing advanced large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.