DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's innovative approach in the competitive AI landscape.