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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 High-Flyer's co-founder, the company has gained attention in the tech sector for its latest AI developments. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.