DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Impressively, DeepSeek has developed AI rivaling top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.