Liang Wenfeng is a Chinese businessman and entrepreneur. He helped start the hedge fund High-Flyer, which uses data and numbers to make investments. He is also the founder and CEO of DeepSeek, a company that works with artificial intelligence.
Liang Wenfeng Biography
Liang Wenfeng was born in 1985 in Zhanjiang, Guangdong. His parents were both primary school teachers. In 2008, while still a student, he and his classmates started collecting financial market data.
He led the team in exploring quantitative trading using machine learning and other technologies during the 2007–2008 financial crisis.
After graduating, Liang moved to a small, inexpensive apartment in Chengdu, Sichuan. He experimented with using AI in different areas, but his early attempts were unsuccessful. Eventually, he found success when he applied AI to finance.
Education & Family
Liang Wenfeng studied at Zhejiang University, earning a Bachelor’s degree in Electronic Information Engineering in 2007. He then completed his Master’s degree in Information and Communication Engineering in 2010.
For his master’s research, he worked on a project about tracking moving objects using a low-cost PTZ camera, under the guidance of Professor Xiang Zhiyu.
Career Journey Of Liang Wenfeng
In 2013, Liang Wenfeng started combining artificial intelligence (AI) with quantitative trading. He co-founded Hangzhou Yakebi Investment Management with his university classmate Xu Jin. Later, in 2015, they co-founded Hangzhou Huanfang Technology, which later became Zhejiang Jiuzhang Asset Management.
In 2016, Liang and two of his engineering classmates founded Ningbo High-Flyer Quantitative Investment, a hedge fund that used math and AI to make investment decisions. By 2019, High-Flyer had grown to manage over 10 billion yuan ($1.4 billion) in assets. That year, Liang also founded High-Flyer AI, a company focused on AI research.
In August 2019, Liang gave a speech titled “The Future of Quantitative Investment in China from a Programmer’s Perspective” at the Golden Bull Awards.
He explained that in quantitative investing, decisions are made by algorithms, not human fund managers. He also stated that High-Flyer’s mission was to improve China’s financial markets.
In 2021, Liang wrote the preface for the Chinese edition of Gregory Zuckerman’s book The Man Who Solved the Market, about legendary investor Jim Simons. Liang admired Simons’ belief that market prices could be predicted using models.
Around this time, Liang also started buying thousands of Nvidia GPUs for an AI project while running High-Flyer. Some people thought he was just a wealthy tech enthusiast experimenting with new ideas.
Even his business partners initially did not take him seriously, describing him as a “nerdy guy with a bad haircut” who couldn’t clearly explain his vision.
What Is DeepSeek AI?
In May 2023, Liang launched DeepSeek, a company focused on developing Artificial General Intelligence (AGI). He revealed in an interview that High-Flyer had secretly bought 10,000 Nvidia A100 GPUs before the U.S. imposed AI chip restrictions on China.
This gave DeepSeek an advantage in building large AI models. Because DeepSeek’s goals were long-term, it struggled to get funding from venture capitalists.
Instead, it relied on High-Flyer’s financial support and hired employees based on talent and passion rather than experience.
In July 2024, Liang was interviewed again and discussed how the launch of DeepSeek V2 unexpectedly caused an AI price war in China.
He also said that while China’s economy was growing, the country needed to contribute to innovation instead of just benefiting from others’ advancements.
He criticized the lack of confidence in China’s ability to organize talent for breakthroughs.
DeepSeek’s Global Impact
On January 20, 2025, the Chinese government invited Liang to a high-level symposium in Beijing, where he shared his insights on economic and technological policies.
Shortly after, DeepSeek released R1, an open-source AI model with 671 billion parameters. It was developed using only 2,048 Nvidia H800 GPUs for $5.6 million, making it much more efficient than Western AI projects that required billion-dollar budgets.
By January 27, 2025, DeepSeek surpassed ChatGPT to become the #1 free app on the U.S. iOS App Store. The sudden success of DeepSeek caused panic in the U.S. stock market, wiping out over $1 trillion in market value.
Networth
Liang Wenfeng’s net worth is $3.2 billion (approximately ₹28,000 crore).
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