DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to top competitors at a fraction of the cost and computing power. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.