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Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, specializes in developing open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and computing power. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.

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