Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Notably, DeepSeek claims to produce 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 Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.