Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the competitive AI landscape.