Hangzhou DeepSeek, a Chinese AI company from China, 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 latest AI developments. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.