DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 at a fraction of the cost 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.