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IN THIS ISSUE: AI Adoption: IOSCO Report, Recent Research, and Talking Robots

DEEPSEEK

What Are DeepSeek’s AI Plans?

The Financial Times published an interesting story on the reclusive billionaire hedge fund manager behind DeepSeek. Here are the salient points:

• DeepSeek, founded by Liang Wenfeng, is a suite of large language models developed by the Chinese quantitative hedge fund High-Flyer, which initially applied AI to financial markets.

• It developed a low-cost R1 reasoning model comparable to more expensive competitors.

• Currently has about 160 employees (compared to OpenAI’s 2,000)

• Purchased ~10,000 H800 and 10,000 A100 of Nvidia’s powerful chips before export restrictions

• Had to suspend API services due to overwhelming demand and resource constraints with strong interest from healthcare and finance sectors

• Declined investments from Chinese tech giants and venture funds

Prior to the launch of …