Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.