DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing open-source large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices 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.