DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI rivaling top competitors at significantly lower prices and computing power. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.