Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the competitive AI landscape.
