DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI comparable to top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.