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Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Notably, DeepSeek has developed AI rivaling leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.