High-Flyer Capital Management, a leading Chinese quantitative hedge fund, has developed a powerful AI model called DeepSeek-V2 that is on par with western efforts. The model can answer questions, write code, and reason, and its low cost of Rmb2 per million output tokens has sparked a price war among Chinese artificial intelligence providers. With thousands of Chinese developers already signed up, DeepSeek-V2 is poised to give tech giants like Baidu and Alibaba a run for their money. The development of this AI model is fuelled by funding from its sister hedge fund High-Flyer, which has returned 151 per cent since 2017. The model’s open-source architecture and low pricing strategy have made it an attractive option for developers, and it has already been ranked among the top language models in the world. While some experts question whether DeepSeek can sustain its low pricing strategy, the company remains committed to achieving artificial general intelligence, the point at which machines have greater cognitive capabilities than humans.
Chinese Hedge Fund Unleashes AI Powerhouse
DeepSeek-V2 can answer questions, write code and reason.
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