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DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly noteworthy given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's technological prowess in the global AI race.