Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to top competitors at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the challenges faced for Nvidia processors, showcasing DeepSeek's technological prowess in the global AI race.