The founder of Chinese startup DeepSeek attended a meeting with Chinese Premier Li Qiang on Jan 20, according to state broadcaster CCTV.
Images from the CCTV report showed Liang Wenfeng, who is the controlling shareholder of the Hangzhou startup behind DeepSeek and the co-founder of quantitative hedge fund High-Flyer, speaking with Li and other officials.
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Images from the CCTV report showed Liang Wenfeng, who is the controlling shareholder of the Hangzhou startup behind DeepSeek and the co-founder of quantitative hedge fund High-Flyer, speaking with Li and other officials.
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00The founder of Chinese startup DeepSeek attended a meeting with Chinese Premier Li Qiang on
00:05January 20, according to state broadcaster CCTV.
00:09Images from the CCTV report showed Liang Wenfeng, who is the controlling shareholder of the
00:15Hangzhou startup behind DeepSeek and the co-founder of quantitative hedge fund HiFlyer, speaking
00:21with Li and other officials.
00:23The meeting was a symposium for business people and industry experts, according to Xinhua
00:28News Agency.
00:30DeepSeek's researchers wrote in a paper in December that the company's V3 model, launched
00:35on January 10, used US-based NVIDIA's lower capability H800 chips for training, spending
00:42less than $6 million.
00:44The launch and increasing popularity of DeepSeek spurred investors to dump tech stocks globally,
00:50with ripples felt from Tokyo to Amsterdam to Silicon Valley.
00:54Japanese technology shares fell on Tuesday as a global market rout sparked by the emergence
01:00of the low-cost Chinese artificial intelligence model entered day two, with investors questioning
01:06the sky-high valuation and dominance of AI bellwethers.
01:11Shares of NVIDIA, the poster child of the AI boom in recent years, dragged US stocks
01:16lower, sinking 17% on Monday and wiping $593 billion from the chipmaker's market value,
01:24a record one-day loss for any company.