Hangzhou DeepSeek, a Chinese AI company from China, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.