Hangzhou 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 gained attention in the AI industry for its latest AI developments. Impressively, DeepSeek has developed AI rivaling leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.