Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly noteworthy given the challenges faced for Nvidia processors, demonstrating DeepSeek's innovative approach in the competitive AI landscape.