Hangzhou DeepSeek, a Chinese AI company from China, focuses on creating advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to top competitors at significantly lower prices and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.