High flyer to AI flyer: Quant whiz turns tech disruptor
DeepSeek, an AI startup that has startled markets with its capacity to compete with industry leaders like OpenAI, kept a low profile as he built up a hedge fund and then refined its quantitative models to branch into artificial intelligence.
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Liang Wenfeng, who founded DeepSeek in 2023, was born in southern China's Guangdong and studied in eastern China's Zhejiang province, home to e-commerce giant Alibaba and other tech firms, according to Chinese media reports.
The hedge fund he set up in 2015, High-Flyer Quantitative Investment Management, developed models for computerized stock trading and began using machine-learning techniques to refine those strategies.
Like many Chinese quantitative traders, High-Flyer was hit by losses when regulators cracked down on such trading in the past year. However, it reportedly manages $8 billion in assets, ample resources for funding DeepSeek's AI research.
It also has abundant computing power for AI, since High-Flyer had by 2022 amassed a cluster of 10,000 of California-based Nvidia's high-performance A100 graphics processor chips that are used to build and run AI systems, according to a post that summer on Chinese social media platform WeChat. The U.S. soon after restricted sales of those chips to China.
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