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DeepSeek, a Chinese artificial intelligence firm 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 latest AI developments. Notably, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.