Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.