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Hangzhou DeepSeek, a Chinese AI company from China, specializes in developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling leading models like GPT-4 at a fraction of the cost and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the competitive AI landscape.