Hangzhou DeepSeek, a Chinese AI company from China, focuses on developing open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling top competitors at significantly lower prices and computing power. This achievement is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.