DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling leading models like GPT-4 at a fraction of the cost and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.