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Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.