The State Investor
📰 Dev.to AI
Beijing's National AI Investment Fund is leading a three-to-four-billion-dollar round valuing DeepSeek at forty-five to fifty billion. The same state capital model that built China's semiconductor fabs is now funding the frontier models that run on them. Liang Wenfeng spent three years rejecting outside capital. He spun DeepSeek out of his quantitative hedge fund High-Flyer Capital Management in July 2023, bankrolled the entire operation from trading profits, and controlled ro
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Beijing's National AI Investment Fund is leading a three-to-four-billion-dollar round valuing DeepSeek at forty-five to fifty billion. The same state capital model that built China's semiconductor fabs is now funding the frontier models that run on them. Liang Wenfeng spent three years rejecting outside capital. He spun DeepSeek out of his quantitative hedge fund High-Flyer Capital Management in July 2023, bankrolled the entire operation from trading profits, and controlled ro
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