Hangzhou DeepSeek, a Chinese AI company from China, specializes in developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its latest AI developments. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.