DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing 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. Impressively, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.