DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.