DeepSeek, a Chinese AI company based in Hangzhou, focuses on 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 leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.