Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.