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Hangzhou DeepSeek, a Chinese artificial intelligence firm 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 tech sector for its latest AI developments. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.