Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, 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 comparable to leading models like GPT-4 at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.