A little-known Chinese company, DeepSeek, has unsettled investors with the launch of an AI model that rivals industry leaders like OpenAI and Meta. Even more striking, DeepSeek accomplished this at a fraction of the cost and without access to cutting-edge chips.
DeepSeek has had to navigate US semiconductor restrictions, which have blocked China from accessing the world’s most advanced chips including Nvidia’s H100s. The announcement initially triggered a 17% drop in Nvidia’s stock before it rebounded, raising questions about the future demand for AI hardware and the broader implications for the technology sector.
DeepSeek is a Chinese artificial intelligence startup that operates under High-Flyer, a quantitative hedge fund based in Hangzhou, China. Liang Wenfeng is the founder and CEO of DeepSeek. He co-founded High-Flyer in 2016, which later became the sole backer of DeepSeek.
Could DeepSeek’s breakthrough reshape the competitive landscape and cause further ripples on Wall Street? How will this development impact the future of AI and its key players?
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