Hangzhou DeepSeek, a Chinese AI company from China, 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 leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.