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Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.