Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling top competitors at significantly lower prices and computing power. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's innovative approach in the competitive AI landscape.