Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.