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Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to leading models like GPT-4 at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.