Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in 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. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at a fraction of the cost and resource requirements. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.