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 made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 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 innovative approach in the competitive AI landscape.