Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.