Hangzhou DeepSeek, a Chinese AI company from China, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has gained attention 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 remarkable given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.