"Chinese AI lab DeepSeek broke into the mainstream consciousness this week after its chatbot app rose to the top of the Apple App Store charts ( and Google Play, as well). DeepSeek's AI models, which were trained using compute-efficient techniques, have led Wall Street analysts - and technologists - to question whether the U.S. can maintain its lead in the AI race and whether the demand for AI chips will sustain."
"DeepSeek is backed by High-Flyer Capital Management, a Chinese quantitative hedge fund that uses AI to inform its trading decisions. AI enthusiast Liang Wenfeng co-founded High-Flyer in 2015. Wenfeng, who reportedly began dabbling in trading while a student at Zhejiang University, launched High-Flyer Capital Management as a hedge fund in 2019 focused on developing and deploying AI algorithms. In 2023, High-Flyer started DeepSeek as a lab dedicated to researching AI tools separate from its financial business."
DeepSeek's chatbot app rose to the top of the Apple App Store and Google Play after the lab released compute-efficient AI models. Analysts and technologists questioned whether the U.S. can maintain its lead in AI and whether AI chip demand will sustain. High-Flyer Capital Management, a quantitative hedge fund co-founded by Liang Wenfeng, backed DeepSeek and spun the lab into a separate company after starting it in 2023. DeepSeek built its own data-center clusters but faced U.S. export bans, forcing training on Nvidia H800 chips rather than the H100. The company recruits young PhD researchers and non-computer-science hires. DeepSeek unveiled DeepSeek Coder, DeepSeek LLM, and DeepSeek Chat in November 2023.
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