Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing advanced large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.