Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI comparable to top competitors at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's innovative approach in the competitive AI landscape.