Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI rivaling top competitors at significantly lower prices and resource requirements. This achievement is particularly remarkable given the challenges faced for Nvidia processors, demonstrating DeepSeek's innovative approach in the competitive AI landscape.