DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its latest AI developments. Notably, DeepSeek has developed AI rivaling top competitors 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 global AI race.