Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, 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 has developed AI comparable to top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.