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Hangzhou DeepSeek, a Chinese AI company from China, specializes in creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's technological prowess in the competitive AI landscape.