DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's technological prowess in the global AI race.