Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating advanced 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 comparable to top competitors at significantly lower prices and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.