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DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling top competitors at significantly lower prices and computing power. This achievement is particularly noteworthy given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the global AI race.