DeepSeek, a Chinese AI company based in Hangzhou, specializes in 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 latest AI developments. Notably, DeepSeek claims to produce AI comparable to top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.