Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling top competitors at significantly lower prices and resource requirements. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's technological prowess in the global AI race.