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DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.