DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI rivaling top competitors at significantly lower prices and resource requirements. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's technological prowess in the competitive AI landscape.