Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the challenges faced for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.