Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.