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In 2016 he founded the hedge fund High-Flyer, which quickly became one of China’s wealthiest investment houses thanks to Liang and Co.’s intensive use of A.I. models for optimizing trades.

High-Flyer’s A.I. innovations and experiments had led it to stock up on Nvidia’s most potent graphic processing units—the high-efficiency chips that power so much of today’s most elite A.I.

However, High-Flyer was already making ample use of its chip stash.

Nor is DeepSeek a shoestring operation: It’s a spinoff from the Chinese hedge fund High-Flyer, whose investment in the project is unknown.

DeepSeek was founded in 2023 by Liang Wenfeng, an entrepreneur who also established the Chinese stock trading firm High-Flyer.