After DeepSeek, Chinese fund managers beat High-Flyer’s path to AI

By Samuel Shen and Vidya Ranganathan

SHANGHAI/SINGAPORE (Reuters) – Chinese hedge fund High-Flyer’s use of artificial intelligence in trading markets has spurred an AI arms race among mainland asset managers that could shake up the country’s $10 trillion fund management industry.

Quant fund High-Flyer not only deployed AI in its multi-billion dollar portfolio, it also built China’s most notable AI start-up DeepSeek whose cost-effective large language model stunned Silicon Valley and undermined…