GoKawiilDeepSeek seeks outside funding as High-Flyer's IPO bets grow riskier
DeepSeek, the AI lab founded by Liang Wenfeng, has relied on his hedge fund High-Flyer Quant for early funding and computing power, but is now courting outside investors as its needs expand. Meanwhile, High-Flyer's affiliates have taken sizable pre-IPO stakes in Chinese hard-tech firms like memory chipmaker CXMT and robotics company Unitree, even as volatility in AI and chip stocks has hit the fund's returns.