DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek has developed AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.