DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in 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 rivaling leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.