Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating 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 rivaling leading models like GPT-4 at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the challenges faced for Nvidia processors, demonstrating DeepSeek's innovative approach in the competitive AI landscape.