Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, focuses on developing open-source large language models. Established recently by Liang Wenfeng, 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 a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.