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Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Impressively, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the global AI race.