China AI Startup DeepSeek AI Model & ChatGPT Competitor Built with $6 Million Funding, Founded in 2023 & Invested Solely by China Quant Hedge Fund High-Flyer Quant, DeepSeek CEO Liang Wenfeng Age 39 is High-Flyer Quant Co-Founder, High-Flyer Quant was Founded in 2015 Replying on Mathematics & AI for Quantitative Investment
29th January 2025 | Hong Kong
China AI startup DeepSeek AI model & ChatGPT competitor was reported to be built with $6 million funding. DeepSeek was founded in 2023, and is invested solely by China quant hedge fund High-Flyer Quant. DeepSeek CEO Liang Wenfeng (Age 39) is High-Flyer Quant co-founder. High-Flyer Quant was founded in 2015, relying on Mathematics and AI for quantitative investment. In 2022, High-Flyer donated CNY 221.38 million ($30 million) to employees, with 1 employee (Pingfan Xiaozhu) donating CNY 138 million ($19 million). In 2021, High-Flyer AI spent CNY 1 billion ($137 million) to build an AI high-performance computing platform (AIHPC: Fire-Flyer II), and had spent CNY 200 million ($27 million) to build Fire-Flyer I. In 2016, High-Flyer created the first stock position using AI model (deep learning algorithm model launched for real-time trading on 21/10/16). In 2023, High-Flyer Quant suspended co-founder Xu Jin, citing reputation risk from Xu Jin improper handling of family issue. In 2021, China top quant hedge fund Zhejiang High-Flyer Asset Management apologised to investors for record loss caused by mistimed trades, which is the biggest loss in the hedge fund history. The quant hedge fund posted a statement on Wechat that it was “deeply guilty.” Zhejiang High-Flyer Asset Management manages around $14.1 billion (CNY 90 billion), which is the largest quant hedge fund in China. High-Flyer – We bring science to understanding the financial markets, identifying asset mispricing, and investing. Specialized in AI, High-Flyer is an outstanding quant hedge fund both at home and abroad. We have achieved excellent performance for many years in a row by dealing with massive data through neural networks, building natural language processing models to analyze financial and economic behavior.
“ China AI Startup DeepSeek AI Model & ChatGPT Competitor Built with $6 Million Funding, Founded in 2023 & Invested Solely by China Quant Hedge Fund High-Flyer Quant, DeepSeek CEO Liang Wenfeng Age 39 is High-Flyer Quant Co-Founder, High-Flyer Quant was Founded in 2015 Replying on Mathematics & AI for Quantitative Investment “
China $5.4 Billion Hedge Fund High-Flyer Quant Suspends Co-Founder Xu Jin, Reputation Risk from Xu Jin Improper Handling of Family Issue
28th October 2023 – China leading $5.4 billion hedge fund High-Flyer Quant has suspended co-founder Xu Jin, citing reputation risk from Xu Jin improper handling of family issue. High-Flyer Quant was established in 2015, relying mathematics and AI for quantitative investment. In 2021, China top quant hedge fund Zhejiang High-Flyer Asset Management apologised to investors for record loss caused by mistimed trades, which is the biggest loss in the hedge fund history. The quant hedge fund posted a statement on Wechat that it was “deeply guilty.” Zhejiang High-Flyer Asset Management manages around $14.1 billion (CNY 90 billion), which is the largest quant hedge fund in China.
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