Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek has developed AI comparable to top competitors at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the competitive AI landscape.