China's DeepSeek is asking employees not to travel abroad freely, claim reports

Chinese AI chatbot DeepSeek has reportedly asked some of the company's staff to avoid venturing overseas. DeepSeek forbids some employees from traveling abroad freely, Reuters reported quoting The Information.

The development came even as the local government in eastern China’s Zhejiang province is screening potential investors before DeepSeek company meetings, the report says.

DeepSeek is choosing to focus on research over revenue, as its billionaire founder has decided not to follow Silicon Valley rivals by taking advantage of a sudden jump in sales, the Financial Times reported on Thursday.


Last month, revenues were enough to cover ongoing costs for the first time, the report said, citing two people with knowledge of its development.

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, Reuters.

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 Western dominance of the AI sector.

In its wake, aspiring Chinese hedge fund managers such as Baiont Quant, Wizard Quant and Mingshi Investment Management are stepping up AI research, while dozens of mutual fund companies are rushing to incorporate DeepSeek into their investment workflow.

FAQs

Q1. What is DeepSeek?
A1. DeepSeek is Chinese AI chatbot.

Q2. What is AI?
A1. AI stands for Artificial Intelligence.