Hangzhou DeepSeek, a Chinese AI company from China, specializes in creating open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the tech sector for its latest AI developments. Notably, DeepSeek claims to produce AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.