Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 at a fraction of the cost and resource requirements. This breakthrough is particularly remarkable given the challenges faced for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.