DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the tech sector for its latest AI developments. Impressively, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.