Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating advanced large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.