Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the global AI race.