CHINA – The success of Chinese firm DeepSeek has sent shockwaves through the artificial intelligence industry – bringing the world’s attention to its previously low-profile boss. More than USD 1trillion was wiped off the value of global technology stocks Monday after DeepSeek’s advanced AI technology was revealed to the world – sparking panic that the West could fall behind in the AI arms race.  Liang Wenfeng, a hedge fund manager, founded DeepSeek in the city of Hangzou with the proceeds of his successful financial business, although some sceptics have questioned how big a role the Chinese state has in the company’s rapid development. Now CEO of DeepSeek, Wenfeng was never motivated by money, according to friends, but had always hoped he would command the respect of the US-dominated tech world. And after being responsible for one of the biggest shake-ups in the AI sphere, it is safe to say the entrepreneur has achieved just that.

The chatbot has since become the most downloaded free app in the country – with its skyrocketing popularity seeing the value of its rival AI firms tumble and sending shockwaves through Wall Street and Silicon Valley. His success at challenging US dominance in the sector has seen him hailed a national hero in China, and earned him an audience with the country’s prime minister Li Qiang last week. (Dailymail)