in

Chinese quant fund transitions to AI pioneer in finance.

AIinFinance

High-Flyer Capital Management, a Chinese quant fund, has developed an AI model called DeepSeek-V2 that rivals leading western efforts. The model is cost-effective, sparking a price war among Chinese AI providers. ByteDance, Alibaba, and Baidu have all cut prices in response to DeepSeek’s launch. This competition highlights China’s competitive generative AI race.

High-Flyer’s success in the financial sector has enabled the development of DeepSeek, with funding from the hedge fund. Despite Beijing’s crackdown on quant funds, High-Flyer has continued to innovate and invest in AI infrastructure. The company’s goal is to achieve artificial general intelligence, surpassing human cognitive capabilities.

DeepSeek-V2 has quickly attracted Chinese developers and is considered among the top LLMs in the world. The model’s unique architecture and ability to handle multiple tasks efficiently have garnered praise from experts. Despite its low pricing compared to competitors, some industry experts question its sustainability and computing power limitations.

With ambitions to lead in AI development, High-Flyer’s DeepSeek aims to push the boundaries of artificial intelligence. The company’s dedication to AI research and innovation has positioned it as a key player in China’s competitive AI landscape.

Source link

Source link: https://www.ft.com/content/357f3c68-b866-4c2e-b678-0d075051a260

What do you think?

Leave a Reply

GIPHY App Key not set. Please check settings

🔮Understanding Predictive Analytics in AI | by YAROCELIS.eth - Tech Trends | Jun, 2024

Deciphering AI’s Predictive Analytics: A Deep Dive #AIpredictions

Apple jumps into the AI arms race with OpenAI deal

Apple enters AI competition with OpenAI partnership. #technology