DeepSeek, the Chinese AI lab, has been financed since its inception by High-Flyer Quant, the hedge fund of its founder Liang Wenfeng, which uses AI and deep learning to trade stocks. High-Flyer has secured allocations in several high-profile tech IPOs, including 175 million yuan ($26 million) in CXMT, China’s leading memory chipmaker, whose shares quintupled during its July debut, and $5.8 million in Unitree Robotics. DeepSeek raised 50 billion yuan ($7.4 billion) in its first funding round and is reportedly in talks to raise at least another $7.4 billion at a $74 billion valuation, while Liang Wenfeng became the world’s richest AI founder as of July according to Bloomberg.
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