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Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry 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 noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.

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