Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on developing open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling top competitors at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.