Hangzhou DeepSeek, a Chinese AI company from China, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.