Public dossier section · @ben

history

This is @ben's profile revision 1. The original date and editorial confidence below are attributed to its publisher, not independent verification.

Original credited author: Hraness

AI-drafted at Ben Guo's direct request and credited to Hraness; every claim links to its cataloged source.

Back to the full profile · Markdown version · Original document

Published text

deepseek: history

the company, sourced and dated — from the dorm-room trading bots to fire-flyer ii, the r1 shock, and the first raise.

the classmates (2008–2015)

liang wenfeng and his zhejiang university classmates start automating stock trades during the financial crisis, incorporate jacobi in 2013, and register the fund that becomes high-flyer in june 2015.

2008 — automated trading from the dorms: liang wenfeng and zhejiang university classmates begin exploring fully-automated quantitative trading mid-financial-crisis — scraping market data from trading software with image processing and writing plug-in programs to crack trading interfaces. liang's 2015 retelling starts him with rmb 80,000 of personal capital compounding into nine-figure-rmb wealth — self-reported, unverified. the team is all-zju engineering; none have overseas or institutional trading experience. (reported; sources: the jacobi-to-high-flyer history, the high-flyer fund page, 2008 stock-dabbling trio)
2010 — the machine-vision master's: liang completes his meng at zju — advisor xiang zhiyu, thesis on low-cost ptz-camera target tracking — then moves to chengdu to experiment with ai applications, an amac registry listing him as a 'freelancer' until 2013. dji founder wang tao reportedly tried to recruit him on the strength of the machine-vision work. (reported; sources: thesis title, advisor xiang zhiyu, chengdu years, 1985 / zhanjiang / zju meng 2010, the jacobi-to-high-flyer history)
2013 — jacobi: liang and zju classmate xu jin incorporate hangzhou jacobi investment management — named for mathematician c.g.j. jacobi — the direct predecessor of high-flyer. (reported; sources: the jacobi-to-high-flyer history, jiuzhang equity: liang 85%, zheng and xu 7.5% each)
2015-03 — the first fund: the first fund product launches — 幻方沪深300指数增强1号, a csi-300 index-enhanced strategy. (reported; sources: first product mar-2015)
2015-06-11 — high-flyer registered: hangzhou high-flyer technology is registered — later renamed zhejiang jiuzhang asset management ('nine chapters' honors the classical math text). the official history lists 2015 as the founding year; the brand 幻方 ('magic square') references the luoshu diagram. xu jin is the legal representative. (confirmed; sources: zhejiang jiuzhang on the registry, official timeline 2008–2022, the jacobi-to-high-flyer history)

the ai fund (2016–2021)

high-flyer turns into an ai fund — the first deep-learning trade in 2016, all-ai strategies by 2017, a golden bull award, the first fire-flyer cluster, and a ~rmb 100b peak that ends in a public apology for a record drawdown.

2016-02-15 — the ningbo lp: the ningbo high-flyer quantitative investment management partnership is incorporated (amac p1032021) — the second regulated entity, and the reason some english sources give 'february 2016' as the founding date. (confirmed; sources: xu jin career (getui founder, huawei), feb 2016 incorporation))
2016-10-21 — the first deep-learning trade: the first live stock position generated by a deep-learning model goes on the books, gpu-computed — per high-flyer's own timeline, which is the only account. (reported; sources: official timeline 2008–2022)
2017 — all-ai strategies: 'almost all' quant strategies run on ai models by year-end — self-reported on the official timeline. (reported; sources: official timeline 2008–2022)
2018 — the golden bull: the first golden bull award — china's top private-fund prize — and the company formally sets ai as its primary direction, beginning the hunt for large-scale compute. (confirmed; sources: official timeline 2008–2022)
2019 — the 百亿 fund: aum passes rmb 10b ('百亿私募'); high-flyer capital management hong kong takes an sfc type-9 license; the 幻方ai research company is registered for 'ai algorithm and basic-application research.' liang gives a rare public speech at the golden bull forum — 'a quant has no fund managers; the fund manager is a rack of servers.' (confirmed; sources: official timeline 2008–2022, same text, dated, feb 2016 incorporation))
2020 — fire-flyer i: fire-flyer i enters service — ~rmb 200m and 1,100 accelerator cards on 200gbps interconnect. it retires about a year and a half later, a practice fleet. (reported; sources: official timeline 2008–2022, may-8 round launch)
2021 — the 千亿 peak: the portfolio peaks — reuters: 'totalled over 100 billion yuan by end of 2021' (~$14b). on 15 november the fund halts all new subscriptions; on 25 november it waives rmb-fund redemption fees. (reported; sources: one of nine speakers, $14b peak aum, the record-drawdown apology)
2021-12-28 — the apology: the fund's first public crisis: a record 10.66% max drawdown across 497 products. an executive's wechat apology circulates on the 27th — 'we'll fully accept the scolding, just please don't hit us' — and the official statement follows on the 28th: 'the drawdown reached a historical maximum; we are deeply ashamed,' blaming long-horizon ai holdings and industry-wide strategy crowding. (confirmed; sources: the record-drawdown apology, verbatim apology quotes)

the fleet (2021–2023)

the whale buys its fleet: ~10,000 nvidia a100s for fire-flyer ii, all before the october 2022 export controls — the decisive timing fact of the whole history. in april 2023 the fund announces an independent agi lab.

2021 — fire-flyer ii: ~rmb 1b goes into fire-flyer ii — ~10,000 nvidia a100 (pcie) gpus with a task-level time-sharing scheduler, the self-built 3fs file system, hfreduce, and hfai.nn. all bought before the october 2022 export controls; per 36kr, high-flyer was 'the only company outside the big tech platforms stockpiling 10,000 a100s.' (confirmed; sources: official timeline 2008–2022, fire-flyer ai-hpc paper, the hfai blog: the 10k-a100 cluster, full-text mirror used for verbatim quotes)
2022 — the cluster at work: the cluster's self-reported year: ≥96% average occupancy, 1.35m jobs, 56.74m gpu-hours — and ~27% of capacity donated as idle-time compute to 50+ university and institute labs. (reported; sources: official timeline 2008–2022, the hfai blog: the 10k-a100 cluster)
2022-10-07 — the export controls: us export controls ban a100/h100 sales to china; the october 2023 rules close the a800/h800 workaround variants. every gpu in the fire-flyer ii fleet was already bought. (confirmed; sources: allen's house testimony: the $5.576m math, state dept official allegation)
2022 — an ordinary little pig: the philanthropy year: the group donates rmb 221.38m across 15 charities, and liang personally gives rmb 138m under the pseudonym 一只平凡的小猪 — 'an ordinary little pig' — listed on high-flyer's own history page. (confirmed; sources: official timeline 2008–2022)
2023-04 — the agi pivot: high-flyer announces it will concentrate resources on agi in a new, independent research organization 'separate from finance,' quoting truffaut's advice to young directors: 'be desperately ambitious, and desperately sincere.' the date is mid-april — the 36kr interview gives the 11th; most coverage cites the 14th. (confirmed; sources: first-ever liang interview, 17 jul 2023 founding, entity names)

the lab (2023–2024)

deepseek incorporates in hangzhou and runs the release ladder — coder, llm, moe, math (grpo), v2's price war, the techno-idealism interview, and v3's 2.788m-gpu-hour final run.

2023-05 — 深度求索: the new org is named 深度求索 — deepseek, echoing qu yuan's 求索, 'to seek.' liang's first-ever interview runs in 36kr/暗涌: 'our llm work has nothing directly to do with quant or finance.' (confirmed; sources: first-ever liang interview)
2023-07-17 — incorporated in hangzhou: hangzhou deepseek artificial intelligence basic technology research co., ltd. is incorporated — rmb 10m registered capital. liang holds 1% directly and ~99% sits with a ningbo limited partnership he controls through nested vehicles — ~84% effective ownership reported. no high-flyer entity appears on the cap table; the funding link is liang himself plus shared people and compute. (confirmed; sources: law-firm equity-structure analysis, 17 jul 2023 founding, ~84% deepseek, ≥76% high-flyer, registry-derived ownership chain (99% chengen))
2023-11-02 — deepseek coder: deepseek coder — 1b to 33b parameters trained on 2t tokens — is the lab's first public model. (confirmed; sources: first public model)
2023-11-29 — deepseek-llm: deepseek-llm 7b/67b — the dense base-model pair. (confirmed; sources: 7b/67b dense llms)
2024-01 — deepseekmoe: deepseekmoe — the mixture-of-experts architecture line that v2 scales up. (confirmed; sources: release-date compilation (coder 11/2, llm 11/29/23…))
2024-02-05 — deepseekmath and grpo: deepseekmath 7b introduces grpo — group relative policy optimization, the rl algorithm that will later drive r1. the author list names zhihong shao, peiyi wang, and daya guo. (confirmed; sources: the deepseek-math repo — grpo)
2024-05-06 — the price war: deepseek-v2 — 236b moe with mla and deepseekmoe — launches at ~rmb 1 per million input tokens and ignites china's llm price war: bytedance, alibaba, baidu, and tencent follow with cuts of 80–97%. semianalysis calls the paper possibly the year's best; jack clark calls the team 'a squad of unfathomable geniuses.' liang: 'we didn't mean to be a catfish; we just accidentally became one.' (confirmed; sources: full-text mirror used for verbatim quotes, release-date compilation (coder 11/2, llm 11/29/23…), v2 (2024-05-06): ¥1/m input, doubao at ¥0.0008/1k tokens; 99.3% cut)
2024-06-17 — coder-v2: deepseek-coder-v2 — the code line catches up to the v2 architecture. (confirmed; sources: release-date compilation (coder 11/2, llm 11/29/23…))
2024-07-17 — the techno-idealism interview: the second 36kr/暗涌 interview — the canonical 'chinese techno-idealism' text: 'the real gap is originality vs. imitation'; 'open source is a cultural act more than a commercial one'; 'our problem has never been money — it's the embargo on high-end chips.' (confirmed; sources: the canonical techno-idealism interview (于丽丽/暗涌), full-text mirror used for verbatim quotes)
2024-08 — the fire-flyer paper: the fire-flyer ai-hpc paper is published for sc24 — ~10,000 pcie a100s approximating dgx-a100 performance at ~half the cost and 60% of the energy. the ~50-author list is signed 'deepseek ai' and includes wenfeng liang: the fund's infrastructure team becoming the lab, on paper. (confirmed; sources: fire-flyer ai-hpc paper, sc24 proceedings listing + full author list)
2024-09-05 — v2.5: deepseek-v2.5 merges the chat and coder lines. (confirmed; sources: release-date compilation (coder 11/2, llm 11/29/23…))
2024-10-19 — the neutral exit: high-flyer tells investors it will cut all hedged-product positions to zero and waive their management fees — exiting the market-neutral strategy after the a-share rally crushes it. bloomberg puts zhejiang high-flyer above rmb 50b at the time. (reported; sources: neutral exit details, top china quant winds down strategy, q3-2024 aum est)
2024-11-20 — r1-lite-preview: r1-lite-preview — the reasoning model's first public outing, api and web only. (confirmed; sources: 17 jul 2023 founding)
2024-12-13 — vl2: deepseek-vl2 — the vision-language line. (confirmed; sources: release-date compilation (coder 11/2, llm 11/29/23…))
2024-12-26 — deepseek-v3: deepseek-v3 — 671b total / 37b active moe, 14.8t tokens — ships open-weights with a technical report claiming 2.788m h800 gpu-hours ≈ $5.576m for the final pre-training run only, at an assumed $2/gpu-hour. silicon valley notices; the number the world will misread is now in print. (confirmed; sources: v3 launch 12/26/24, allen's house testimony: the $5.576m math, how deepseek trained on crippled hardware)

the shock (2025-01 – 2025-03)

r1 lands on inauguration day, the app passes chatgpt, nvidia loses ~$589b in a session, bans cascade across governments — and liang briefs the premier and attends xi's symposium in the same weeks.

2025-01-10 — the app: the deepseek assistant app hits the app store and google play (~jan 10; the official news post follows jan 15). (confirmed; sources: app released jan 10 on ios+android, official app announcement)
2025-01-20 — r1 and the premier: deepseek-r1 ships open-weights under mit — plus r1-zero and six distilled models. the same day, liang attends premier li qiang's symposium on the draft government work report as one of nine speakers — the split-screen that defined the week. (confirmed; sources: 17 jul 2023 founding, jan-20 li qiang symposium, one of nine speakers)
2025-01-24 — the sputnik post: andreessen posts: 'deepseek r1 is one of the most amazing and impressive breakthroughs i've ever seen — and as open source, a profound gift to the world' — and calls it 'ai's sputnik moment.' (confirmed; sources: nvidia −17%/−$600b single-biggest one-day loss, ais sputnik moment post)
2025-01-26 — #1 in the app store: the deepseek app passes chatgpt to #1 free app on the us app store — and tops the charts in 51 other countries per appfigures. (confirmed; sources: #1 us app store jan 26, app-store #1 corroboration)
2025-01-27 — the crash: the market shock: nvidia −17%, ~$589–600b of market cap — the largest single-day loss for a us company on record; broadcom −17%; nasdaq −3.1%; ~$1t wiped overall. trump calls it 'a wake-up call.' deepseek limits new registrations, citing 'large-scale malicious attacks.' (confirmed; sources: nvidia −17%/−$600b single-biggest one-day loss, jan-27 selloff, >$500b nvidia loss, wake-up call/positive development, nvidia −17%/$593b)
2025-01-28 — janus into the chaos: janus-pro-7b — the multimodal model — ships into the chaos. on the 29th, wiz discloses an exposed, unauthenticated deepseek clickhouse database holding chat history, api secrets, and backend details; it is secured after disclosure. (confirmed; sources: 17 jul 2023 founding, open clickhouse, coverage of wiz finding)
2025-01-29 — the distillation claim: openai tells the ft it has evidence linking deepseek to distillation of its models; microsoft reportedly flagged suspicious api exfiltration via openai developer accounts in late 2024; david sacks claims 'substantial evidence.' no public evidence drop ever follows — the claim stands as reported accusation, not demonstrated finding. (reported; sources: openai/ft evidence claim, openai evidence claim, inappropriately distilled quote)
2025-01-30 — the ban cascade: the ban cascade opens: italy's garante orders deepseek blocked — the first country — calling its response 'totally insufficient.' the us navy and nasa follow; texas takes the first state ban on the 31st; australia, taiwan, and korean ministries follow into february. (confirmed; sources: garante block order, nasa memo verbatim, texas first state-level ban, italy/taiwan/navy/texas ban roundup, which countries have banned deepseek and why)
2025-01-31 — the commerce probe: reuters reports us commerce is probing whether deepseek used restricted chips; organized smuggling is tracked through malaysia, singapore, and the uae. (reported; sources: commerce probe)
2025-02-17 — the xi symposium: liang attends xi jinping's closed-door private-enterprise symposium — seated near the front alongside jack ma, pony ma, ren zhengfei, wang chuanfu, and lei jun; attendance is state-media confirmed via yuyuantantian. 'deepseek fever' sweeps china through february and march — telecoms, hospitals, and local governments deploy r1; tencent builds it into wechat search. (confirmed; sources: feb-17 xi symposium confirmed via yuyuantantian, pre-meeting reporting (bloomberg))
2025-02-24 — open source week: open source week — six daily drops: flashmla, deepep, deepgemm, dualpipe and eplb with profile data, then 3fs and smallpond. the fund's internal infrastructure stack becomes public goods. (confirmed; sources: open source week index, the flashmla repo)
2025-02-27 — the 545% figure: the lab closes the week by disclosing a theoretical 545% daily profit margin on v3/r1 inference — flagged 'purely theoretical' in its own post, quoted without the caveat for months after. (confirmed; sources: 545% theoretical, english mirror of the disclosure)
2025-02 — the lobby pilgrimage: the huijin international mansion lobby — deepseek's registered address, in the same complex as high-flyer — becomes a pilgrimage site: 40–50 visitor batches a day at peak, foreign tourists included. the company declines all interviews and lets the papers speak. (confirmed; sources: post-r1 pilgrimage scene, registered address: 汇金国际大厦西1幢1201室, letting research reports speak)

the scrutiny (2025)

the year of scrutiny and normalization — passports held, r2 stalled on a failed ascend run, the r1 paper through nature peer review, the rebate scandal on the fund side, and the first poached researchers.

2025-03 — the passports: the information reports some deepseek staff must surrender passports to high-flyer; zhejiang officials screen would-be investors; the wsj reports beijing warned top ai founders against us travel. (reported; sources: the information: passports held by high-flyer, ~130 ds / ~200 hf staff, travel curbs + zhejiang investor screening)
2025-03-24 — v3-0324: deepseek-v3-0324 ships under mit — the quiet checkpoint refresh. (confirmed; sources: 17 jul 2023 founding)
2025-03-27 — the rich list: liang debuts on the hurun global rich list at rmb 33b (~$4.6b) — >80% of deepseek per hurun's accounting. (reported; sources: hurun debut rmb 33b)
2025-04-09 — the h20 license: the us requires licenses for h20 sales to china — the last compliant channel closes. on april 17 jensen huang flies to beijing and meets liang to discuss compliant next-gen chip designs, per the ft. (confirmed; sources: huang–liang meeting, ft detail: compliant next-gen chip designs discussed)
2025-04-30 — prover-v2: deepseek-prover-v2 — 7b plus the 671b teacher — for lean 4 theorem proving. (confirmed; sources: prover-v2 (7b/671b), lean 4)
2025-05-28 — r1-0528: r1-0528 — stronger reasoning, fewer hallucinations, json and function calling. zvi's post-mortem: it 'did not have a moment.' (confirmed; sources: the deepseek release-date timeline, post-mortem of the january panics narrative factors)
2025-06-26 — r2 stalls: the information via reuters: r2 is stalled — liang unsatisfied with performance — and the nvidia h20 shortage clouds the rollout. (reported; sources: deepseek-r2 launch stalled; ceo balks)
2025-08-07 — the rebate scandal: the fund's governance stain: caixin-linked reporting details a 2018–2023 scheme in which high-flyer marketing director li cheng and a china merchants securities branch manager skimmed ~rmb 118m of trading-commission rebates through a fake-broker arrangement — over rmb 20m to li personally. high-flyer says it was individual misconduct the company was unaware of. (reported; sources: li cheng/meng pengfei rmb-118m rebate case, case details)
2025-08-14 — the ascend failure: the ft via reuters: r2 was delayed after a failed training run on huawei ascend — huawei sent an engineer team onsite and the run still failed. deepseek returns to nvidia for training and keeps ascend for inference only. (reported; sources: ft: ascend training failure delayed r2, huawei onsite team, ft: r2 delayed)
2025-08-21 — v3.1: deepseek-v3.1 — hybrid think/non-think modes and ~840b additional training tokens. a wechat comment noting its ue8m0-fp8 format is 'for next-generation domestic chips' rallies chinese chip stocks. (confirmed; sources: the deepseek release-date timeline, the deepseek model history, v3.1's ue8m0 fp8 for domestic chips)
2025-09 — the first cfo: the lab hires its first cfo — yan wentao, b.1991, a former hillhouse ventures partner whose portfolio included minimax and zhipu — widely read as fundraising groundwork. (reported; sources: the first cfo: yan wentao)
2025-09-17 — the nature paper: the r1 paper is published in nature (645:633–638; submitted feb 14, accepted jul 17) — the first major llm to pass full peer review. the review exchange surfaces two disclosures: r1's own rl stage cost ~$294k atop the base model, and deepseek's statement that r1 did not train on openai-generated reasoning examples. (confirmed; sources: r1 peer-reviewed, $294k r1 training cost disclosed, openai-distillation denial in referee exchange)
2025-09-29 — v3.2-exp and dsa: v3.2-exp debuts deepseek sparse attention — and ships day-1 huawei ascend/cann and vllm support alongside it. (confirmed; sources: the deepseek-v3.2-exp repo, v3.2-exp ships day-1 ascend/cann support)
2025-11-27 — math-v2: deepseekmath-v2 — self-verifiable theorem proving — posts gold-level imo-2025 and cmo-2024 results and 118/120 on putnam 2024 with scaled test-time compute. (confirmed; sources: math-v2: imo-25 & cmo-24 gold-level, authors: shao, luo, lu, ren, hu, ye, gou, ma, zhang)
2025-12-01 — v3.2: deepseek-v3.2 general release, plus the v3.2-speciale heavy-reasoning endpoint. (confirmed; sources: the deepseek release-date timeline, the deepseek model history)
2025-12 — the poaching ground: the talent-war inversion: the lab that raised unknown graduates becomes the poaching ground — luo fuli (a key v3 architect) to xiaomi mimo, wang bingxuan to tencent hunyuan, chong ruan to deeproute.ai as chief scientist; ~10 names on the v4 report's ~300-author list are flagged former employees. (reported; sources: v4 report ~300 authors, departures list incl)

the incumbent (2026–)

the disruptor behaves like an incumbent: the first external raise (~$7.4b at ~$52b reported), v4's preview and ga, api price hikes, ipo prep — and r2 never shipped.

2026-01-14 — the whale keeps earning: the whale keeps earning: high-flyer's 2025 books close at +56.55% mean product return — #2 among >rmb-10b chinese quant privates — on >rmb 70b aum. (reported; sources: high-flyer 2025: +56.55%, >rmb 70b)
2026-02-23 — the anthropic disclosure: anthropic publishes its own account of 'industrial-scale' distillation campaigns — ~24k fraudulent accounts and >16m claude exchanges across deepseek, moonshot, and minimax; deepseek's ~150k+ exchanges are called the most technically sophisticated, including prompts to generate 'censorship-safe' answers on sensitive topics. an openai letter to lawmakers earlier in february alleges ongoing distillation. deepseek has not published a detailed rebuttal. (reported; sources: anthropics own account: 24k accts/16m exchanges, the anthropic distillation figures, censorship-safe prompt detail)
2026-04-24 — the v4 preview: the v4 preview: v4-pro (1.6t total / 49b active) and v4-flash (284b / 13b) with 1m-token context under mit. two days later bloomberg reports the launch was delayed months for deep huawei-ascend optimization, aligning with beijing's chip self-reliance push. (confirmed; sources: the v4 preview: pro + flash, 1m context, v4 delayed for ascend-tuned stack (yuyuantantian), v4 tech report: csa/hca, mhc, muon, 32t tokens)
2026-05-08 — the first raise: the first external funding round ever opens: a ~rmb 300b (~$45b) valuation raising up to rmb 50b, with liang personally injecting up to rmb 20b. alibaba's talks collapsed over ecosystem-binding terms; tencent's proposed ~20% stake was declined; state capital — the national ic fund — is reported the likely lead. the purpose per liang: compute and r&d money, plus a market valuation anchor to retain talent. (reported; sources: may-8 round launch, alibaba collapse, the may 2026 round; the fewest-conditions stance)
2026-06 — the round closes: the round reportedly closes: ~$7.4b at a ~$52b valuation per forbes; linkedin lists the round june 1. (reported; sources: the forbes liang profile: $39.8b, deepseek on linkedin: the $7.4b round)
2026-07-14 — richest ai founder: the bloomberg billionaires index puts liang at ~$36b — the world's richest ai-model founder, above amodei and brockman. (reported; sources: liang tops amodei and brockman as richest ai founder)
2026-08-13 — v4-pro ga and the price hike: v4-pro goes ga on app, web, and api with peak/off-peak pricing (off-peak at half price). a 'significant' api price increase lands days later — up to ~12x on cache hits. v4.1-flash follows on september 10 — natively multimodal, the smallest of the new architecture family, with v4-pro being phased out in its favor. (confirmed; sources: the api changelog: v4-pro ga 2026-08-13, the deepseek-v4.1-flash announcement, up-to-12x cache-hit hike)
2026-09 — r2 never shipped: as of this writing, r2 has never shipped — never even officially announced. the v-line is the flagship; whether the r-line was folded into it is unknown. (reported; sources: r2 status: unannounced, unreleased as of jul-2026)

AI-drafted at Ben Guo's direct request and credited to Hraness; every claim links to its cataloged source.

Canonical page: https://hraness.com/deepseek/history

Original source occurrences

v4 tech report: csa/hca, mhc, muon, 32t tokens · arxiv.org · 2026-04-26 (day) · original ID: src-ci-arxiv-v4 · Other public citations of this URL
v4 tech report: csa/hca, mhc, muon, 32t tokens
inappropriately distilled quote · axios · 2025-01-29 (day) · original ID: src-ci-axios-distillation · Other public citations of this URL
"inappropriately distilled" quote
app-store #1 corroboration · business insider · 2025-01-27 (day) · original ID: src-ci-bi-appstore · Other public citations of this URL
app-store #1 corroboration
nvidia −17%/$593b · computerweekly.com · 2025-01-28 (day) · original ID: src-ci-computerweekly-sputnik · Other public citations of this URL
nvidia −17%/$593b; "priced for perfection"
ft: r2 delayed · the-decoder.com · 2025-08 (month) · original ID: src-ci-decoder-ascend · Other public citations of this URL
ft: r2 delayed; ascend training failed; revert to nvidia
v2 (2024-05-06): ¥1/m input · followin.io · 2025 (year) · original ID: src-ci-followin-pricewar · Other public citations of this URL
v2 (2024-05-06): ¥1/m input; 1/70th gpt-4 turbo; "pinduoduo of ai"
ais sputnik moment post · fortune · 2025-01-27 (day) · original ID: src-ci-fortune-andreessen-sputnik · Other public citations of this URL
"ai's sputnik moment" post; pre-market nvidia −10%
english mirror of the disclosure · gigazine.net · 2025-03-03 (day) · original ID: src-ci-gigazine-545 · Other public citations of this URL
english mirror of the disclosure
$294k r1 training cost disclosed · nature.com · 2025-09-17 (day) · original ID: src-ci-nature-secrets · Other public citations of this URL
$294k r1 training cost disclosed; first major peer-reviewed llm
wake-up call/positive development · nbcnews.com · 2025-01-27 (day) · original ID: src-ci-nbc-trump-wakeup · Other public citations of this URL
"wake-up call"/"positive development"; sacks quote
openai-distillation denial in referee exchange · scientificamerican.com · 2025-09 (month) · original ID: src-ci-sciam-secrets · Other public citations of this URL
openai-distillation denial in referee exchange; h800 main
545% theoretical · scmp.com · 2025-03-01 (day) · original ID: src-ci-scmp-545-margin · Other public citations of this URL
545% theoretical; 226.75 nodes×8×h800; $87k→$562k
coverage of wiz finding · techcrunch · 2025-01-30 (day) · original ID: src-ci-techcrunch-database · Other public citations of this URL
coverage of wiz finding
doubao at ¥0.0008/1k tokens; 99.3% cut · techflowpost.com · 2024-05 (month) · original ID: src-ci-techflow-doubao · Other public citations of this URL
doubao ¥0.0008/1k tokens; 99.3% cut; sector-wide price war
v3.1's ue8m0 fp8 for domestic chips · theregister.com · 2025-08-22 (day) · original ID: src-ci-theregister-v31 · Other public citations of this URL
v3.1 ue8m0 fp8 for next-gen domestic chips
v3.2-exp ships day-1 ascend/cann support · tomshardware.com · 2025-09-29 (day) · original ID: src-ci-tomshardware-v32-cann · Other public citations of this URL
v3.2-exp day-1 ascend/cann/vllm support
openai evidence claim · the verge · 2025-01-29 (day) · original ID: src-ci-verge-distillation · Other public citations of this URL
openai evidence claim; msft api exfiltration; sacks quote
open clickhouse · wiz.io · 2025-01-29 (day) · original ID: src-ci-wiz-database · Other public citations of this URL
open clickhouse; >1m log lines; chat history+keys
post-mortem of the january panics narrative factors · thezvi.substack.com · 2025-05 (month) · original ID: src-ci-zvi-r1-0528 · Other public citations of this URL
post-mortem of the january panic's "narrative factors"
the first cfo: yan wentao · m.163.com · 2025-09 (month) · original ID: src-hp-163-cfo · Other public citations of this URL
cfo yan wentao (b.1991, hillhouse); 2009 internship anecdote
high-flyer 2025: +56.55%, >rmb 70b · 21jingji.com · 2026-01-14 (day) · original ID: src-hp-21jingji-hf2025 · Other public citations of this URL
2025 return 56.55% (#2); >rmb 70b aum; 3/5-yr means
registered address: 汇金国际大厦西1幢1201室 · 21jingji.com · 2025-01-14 (day) · original ID: src-hp-21jingji-office · Other public citations of this URL
registered address: 汇金国际大厦西1幢1201室
first-ever liang interview · m.36kr.com · 2023-05-24 (day) · original ID: src-hp-36kr-interview1 · Other public citations of this URL
first-ever liang interview; naming of 深度求索; gpu ladder quote; funding logic
the canonical techno-idealism interview (于丽丽/暗涌) · 36kr.com · 2024-07-17 (day) · original ID: src-hp-36kr-interview2 · Other public citations of this URL
the canonical "techno-idealism" interview (于丽丽/暗涌)
which countries have banned deepseek and why · aljazeera.com · 2025-02-06 (day) · original ID: src-hp-aljazeera-bans · Other public citations of this URL
nasa jan-31; australia feb-4; korea ministries
allen's house testimony: the $5.576m math · republicans-science.house.gov · 2025 (year) · original ID: src-hp-allen-testimony · Other public citations of this URL
csis's allen house testimony: $5.576m math; oct-7-2022 controls; h800 workaround history
anthropics own account: 24k accts/16m exchanges · anthropic · 2026-02-23 (day) · original ID: src-hp-anthropic · Other public citations of this URL
anthropic's own account: 24k accts/16m exchanges; ds 150k+
texas first state-level ban · associated press · 2025-01-31 (day) · original ID: src-hp-ap-texas · Other public citations of this URL
texas first state-level ban
official app announcement · deepseek.com · 2025-01-15 (day) · original ID: src-hp-app-news · Other public citations of this URL
official app announcement
state dept official allegation · asiatimes.com · 2025-06-25 (day) · original ID: src-hp-asiatimes · Other public citations of this URL
state dept official allegation; wang 50k-h100 claim; nvidia "lawfully acquired h800"; v3=2048 h800s
the jacobi-to-high-flyer history · bianews.com · 2025 (year) · original ID: src-hp-bianews-history · Other public citations of this URL
jacobi 2013; name origins; 80k-capital story; dji's wang tao; aum ladder; 4 partners; donations
liang tops amodei and brockman as richest ai founder · bloomberg · 2026-07-14 (day) · original ID: src-hp-bloomberg-liang-rich · Other public citations of this URL
$36b; richest ai-model founder
top china quant winds down strategy · bloomberg · 2024-10-21 (day) · original ID: src-hp-bloomberg-neutral · Other public citations of this URL
>rmb 50b; hedged products to zero
v4 delayed for ascend-tuned stack (yuyuantantian) · bloomberg · 2026-04-26 (day) · original ID: src-hp-bloomberg-v4delay · Other public citations of this URL
v4 delayed for ascend-tuned stack (yuyuantantian)
nvidia −17%/−$600b single-biggest one-day loss · wayback machine · 2025-01-27 (day) · original ID: src-hp-cbs-nvidia · Other public citations of this URL
nvidia −17%/−$600b "single-biggest one-day loss"; ives $8b liang assets
the may 2026 round; the fewest-conditions stance · chaincatcher.com · 2026-05-09 (day) · original ID: src-hp-chaincatcher-funding · Other public citations of this URL
same round; liang's "fewest conditions" stance
registry-derived ownership chain (99% chengen) · champsignal.com · 2026-09 (month) · original ID: src-hp-champsignal · Other public citations of this URL
registry-derived ownership chain (99% cheng'en)
the anthropic distillation figures · cnbc · 2026-02-24 (day) · original ID: src-hp-cnbc-anthropic · Other public citations of this URL
minimax 13m / moonshot 3.4m / ds 150k; openai letter earlier in feb
nasa memo verbatim · cnbc · 2025-01-31 (day) · original ID: src-hp-cnbc-nasa · Other public citations of this URL
nasa memo verbatim; navy email late jan
may-8 round launch · coinlive.com · 2026-05 (month) · original ID: src-hp-coinlive-funding · Other public citations of this URL
may-8 round launch; liang's rmb 20b; ff1/ff2 cost figures; ~84% control
~130 ds / ~200 hf staff · the-decoder.com · 2025-03 (month) · original ID: src-hp-decoder-travel · Other public citations of this URL
~130 ds / ~200 hf staff; wsj us-travel warning
first public model · github · 2023-11-02 (day) · original ID: src-hp-deepseekcoder-github · Other public citations of this URL
first public model; 1–33b; 2t tokens
7b/67b dense llms · github · 2023-11-29 (day) · original ID: src-hp-deepseekllm-github · Other public citations of this URL
7b/67b dense llms
the deepseek-math repo — grpo · github · 2024-02-05 (day) · original ID: src-hp-deepseekmath-github · Other public citations of this URL
math-7b (arxiv 2402.03300); grpo; author list
law-firm equity-structure analysis · dehehantong.com · 2025 (year) · original ID: src-hp-dehehantong-equity · Other public citations of this URL
law-firm equity-structure analysis; 17 jul 2023, rmb 10m, liang >80% via chengpu/cheng'en
fire-flyer ai-hpc paper · arxiv.org · 2024-08 (month) · original ID: src-hp-fireflyer-paper · Other public citations of this URL
fire-flyer ai-hpc paper; 10k pcie a100; authors "deepseek ai" incl. wenfeng liang
the flashmla repo · github · 2025-02 (month) · original ID: src-hp-flashmla · Other public citations of this URL
flashmla; v3.2 sparse-kernel updates
the forbes liang profile: $39.8b · forbes · 2026-09 (month) · original ID: src-hp-forbes-liang · Other public citations of this URL
$39.8b; "$7.4b raised june 2026 at $52b"
jan-27 selloff · fortune · 2025-01-27 (day) · original ID: src-hp-fortune · Other public citations of this URL
jan-27 selloff; app #1; andreessen quote
alibaba collapse · gate.com · 2026-05-09 (day) · original ID: src-hp-gate-funding · Other public citations of this URL
alibaba collapse; ~$45b; tencent 20% declined; ic-fund lead possibility; hf 56.55% on 70b
openai/ft evidence claim · gizmodo.com · 2025-01-29 (day) · original ID: src-hp-gizmodo-distill · Other public citations of this URL
openai/ft evidence claim; sacks "substantial evidence"; microsoft api flag
huang–liang meeting · theguardian.com · 2025-04-17 (day) · original ID: src-hp-guardian-huang · Other public citations of this URL
huang–liang meeting; house committee letter to nvidia
the hfai blog: the 10k-a100 cluster · high-flyer.cn · 2022 (year) · original ID: src-hp-hfai-blog · Other public citations of this URL
gtc-2022 blog: 10k-a100 cluster, ≥90% util, 3fs/hfreduce/hfai.nn, 50+ labs, 2.7m gpu-hrs
the high-flyer fund page · high-flyer.cn · 2026-09 (month) · original ID: src-hp-highflyer-fund-en · Other public citations of this URL
official fund page: 2008 start, 21 oct 2016 first dl trade, full ai 2017, amac/sfc entities
official timeline 2008–2022 · high-flyer.cn · 2026-09 (month) · original ID: src-hp-highflyer-history · Other public citations of this URL
official timeline 2008–2022; ff1/ff2 specs+costs; donations; hq address 汇金国际大厦a座14层
release-date compilation (coder 11/2, llm 11/29/23…) · deepseekai.guide · 2026-09 (month) · original ID: src-hp-history-guide · Other public citations of this URL
release-date compilation (coder 11/2, llm 11/29/23…)
post-r1 pilgrimage scene · huacheng.gz-cmc.com · 2025-02-05 (day) · original ID: src-hp-huacheng-office · Other public citations of this URL
post-r1 pilgrimage scene; deepseek declined all interviews
thesis title, advisor xiang zhiyu, chengdu years · interestingengineering.com · 2025 (year) · original ID: src-hp-ie-liang · Other public citations of this URL
thesis title, advisor xiang zhiyu, chengdu years; gives 22-may-1985 (single-source)
ft detail: compliant next-gen chip designs discussed · irishtimes.com · 2025-04-17 (day) · original ID: src-hp-irishtimes-huang · Other public citations of this URL
ft detail: compliant next-gen chip designs discussed
entity names · jamestown.org · 2025 (year) · original ID: src-hp-jamestown · Other public citations of this URL
entity names; lu zhengzhe ceo; yicai apr-17-2023; $1t market-loss framing
first product mar-2015 · jiemian.com · 2019-12 (month) · original ID: src-hp-jiemian-scale · Other public citations of this URL
first product mar-2015; two 百亿 entities
~84% deepseek, ≥76% high-flyer · legalclarity.org · 2025 (year) · original ID: src-hp-legalclarity · Other public citations of this URL
~84% deepseek, ≥76% high-flyer; april-2023 lab announcement
deepseek on linkedin: the $7.4b round · linkedin · 2026-09 (month) · original ID: src-hp-linkedin-ds · Other public citations of this URL
$7.4b venture round 2026-06-01; hiring/alumni flows
math-v2: imo-25 & cmo-24 gold-level · arxiv.org · 2025-11-27 (day) · original ID: src-hp-mathv2 · Other public citations of this URL
math-v2: imo-25 & cmo-24 gold-level; putnam 118/120
authors: shao, luo, lu, ren, hu, ye, gou, ma, zhang · github · 2025-11-27 (day) · original ID: src-hp-mathv2-github · Other public citations of this URL
authors: shao, luo, lu, ren, hu, ye, gou, ma, zhang
app released jan 10 on ios+android · mobiledevmemo.com · 2025-01-29 (day) · original ID: src-hp-mobiledevmemo · Other public citations of this URL
app released jan 10 on ios+android
the deepseek model history · chat-deep.ai · 2026-09 (month) · original ID: src-hp-model-history · Other public citations of this URL
v3.1 hybrid design, ~840b added tokens; v3.2 stages
r1 peer-reviewed · nature.com · 2025-09-17 (day) · original ID: src-hp-nature-r1 · Other public citations of this URL
r1 peer-reviewed; nature 645:633–638; received feb-14, accepted jul-17
neutral exit details · m.nbd.com.cn · 2024-10-19 (day) · original ID: src-hp-nbd-neutral · Other public citations of this URL
neutral exit details; sept-11 earlier notice; <5% aum
$14b peak aum · ndtv.com · 2025 (year) · original ID: src-hp-ndtv · Other public citations of this URL
$14b peak aum; ~35% best-year annualized (reported)
v4 report ~300 authors · newsglobenow.com · 2026 (year) · original ID: src-hp-newsglobe-departures · Other public citations of this URL
v4 report ~300 authors; 10 flagged departed; destinations
how deepseek trained on crippled hardware · nextplatform.com · 2025-01-27 (day) · original ID: src-hp-nextplatform · Other public citations of this URL
v3 671b/37b, 14.8t tokens; h800 analysis
open source week index · github · 2025-02-24 (day) · original ID: src-hp-openinfra · Other public citations of this URL
open source week index; daily drops list
prover-v2 (7b/671b), lean 4 · github · 2025-04-30 (day) · original ID: src-hp-prover-github · Other public citations of this URL
prover-v2 (7b/671b), lean 4
zhejiang jiuzhang on the registry · m.qcc.com · 2026-09 (month) · original ID: src-hp-qcc-jiuzhang · Other public citations of this URL
浙江九章资产 est. 2015-06-11; legal rep xu jin; ex-name 杭州幻方科技
li cheng/meng pengfei rmb-118m rebate case · news.qq.com · 2025-08-07 (day) · original ID: src-hp-qq-corruption · Other public citations of this URL
li cheng/meng pengfei rmb-118m rebate case; gao xiang
q3-2024 aum est · news.qq.com · 2024-10-20 (day) · original ID: src-hp-qq-neutral · Other public citations of this URL
q3-2024 aum est. rmb 50–60b
huawei onsite team · theregister.com · 2025-08-14 (day) · original ID: src-hp-register-huawei · Other public citations of this URL
huawei onsite team; ascend→inference-only; no fp8
commerce probe · reuters · 2025-01-31 (day) · original ID: src-hp-reuters-chips · Other public citations of this URL
commerce probe; singapore/malaysia/uae smuggling tracking; h800 legal in 2023
garante block order · reuters · 2025-01-30 (day) · original ID: src-hp-reuters-italy · Other public citations of this URL
garante block order
one of nine speakers · reuters · 2025-01-28 (day) · original ID: src-hp-reuters-liang · Other public citations of this URL
one of nine speakers; >rmb 100b end-2021 aum
ft: ascend training failure delayed r2 · reuters · 2025-08-14 (day) · original ID: src-hp-reuters-r2ft · Other public citations of this URL
ft: ascend training failure delayed r2
deepseek-r2 launch stalled; ceo balks · reuters · 2025-06-26 (day) · original ID: src-hp-reuters-r2june · Other public citations of this URL
r2 stalled; liang unsatisfied; planned may
sc24 proceedings listing + full author list · sc24.supercomputing.org · 2024 (year) · original ID: src-hp-sc24 · Other public citations of this URL
sc24 proceedings listing + full author list
jan-20 li qiang symposium · scmp.com · 2025-01-21 (day) · original ID: src-hp-scmp-liqiang · Other public citations of this URL
jan-20 li qiang symposium
the deepseek release-date timeline · scriptbyai.com · 2026-09 (month) · original ID: src-hp-scriptbyai-timeline · Other public citations of this URL
2025-26 release dates (v3.1 8/21, terminus 9/22, v3.2-exp 9/29, v3.2 12/1…)
xu jin career (getui founder, huawei) · dc.simuwang.com · undated (unknown) · original ID: src-hp-simuwang-xujin · Other public citations of this URL
xu jin career (getui founder, huawei); ningbo lp est. 2016-02-15; core-member list
case details · finance.sina.com.cn · 2025-08-11 (day) · original ID: src-hp-sina-corruption · Other public citations of this URL
case details; company denial of corporate involvement; >rmb 60b mid-2025
jiuzhang equity: liang 85%, zheng and xu 7.5% each · finance.sina.com.cn · 2026-01-18 (day) · original ID: src-hp-sina-jiuzhang · Other public citations of this URL
jiuzhang entity: liang 85%, zheng/xu 7.5% each
departures list incl · substack · 2026 (year) · original ID: src-hp-sinocism-departures · Other public citations of this URL
departures list incl. guo daya (apr 2026), grpo, 37k citations
feb-17 xi symposium confirmed via yuyuantantian · thestandard.com.hk · 2025-02-17 (day) · original ID: src-hp-standard-xi · Other public citations of this URL
feb-17 xi symposium confirmed via yuyuantantian
the record-drawdown apology · news.stcn.com · 2021-12-29 (day) · original ID: src-hp-stcn-apology · Other public citations of this URL
证券时报: dec-28 apology, 10.66% record drawdown, 497 products, nov-15/25 measures
2008 stock-dabbling trio · techcentral.co.za · 2025-02 (month) · original ID: src-hp-techcentral-liang · Other public citations of this URL
2008 stock-dabbling trio; no overseas experience; systematic turn 2015
#1 us app store jan 26 · techcrunch · 2025-01-27 (day) · original ID: src-hp-techcrunch-appstore · Other public citations of this URL
#1 us app store jan 26; 51 countries (appfigures)
italy/taiwan/navy/texas ban roundup · techcrunch · 2025-02-03 (day) · original ID: src-hp-techcrunch-bans · Other public citations of this URL
italy/taiwan/navy/texas ban roundup
travel curbs + zhejiang investor screening · techcrunch · 2025-03-14 (day) · original ID: src-hp-techcrunch-watch · Other public citations of this URL
travel curbs + zhejiang investor screening
pre-meeting reporting (bloomberg) · techcrunch · 2025-02-14 (day) · original ID: src-hp-techcrunch-xi · Other public citations of this URL
pre-meeting reporting (bloomberg)
hurun debut rmb 33b · technode.com · 2025-03-28 (day) · original ID: src-hp-technode-hurun · Other public citations of this URL
hurun debut rmb 33b; >80% stake
v3 launch 12/26/24 · news.qq.com · 2025-01-06 (day) · original ID: src-hp-tencent-quant · Other public citations of this URL
v3 launch 12/26/24; schmidt quote; aum 200–300亿 claim; ff1/ff2 figures
verbatim apology quotes · m.thepaper.cn · 2021-12-29 (day) · original ID: src-hp-thepaper-apology · Other public citations of this URL
verbatim apology quotes; wechat "千万莫动手" screenshot
the deepseek-v3.2-exp repo · github · 2025-09-29 (day) · original ID: src-hp-v32-github · Other public citations of this URL
v3.2-exp, deepseek sparse attention
the v4 preview: pro + flash, 1m context · deepseek.com · 2026-04-24 (day) · original ID: src-hp-v4-news · Other public citations of this URL
v4 preview: pro 1.6t/49b, flash 284b/13b, 1m ctx
censorship-safe prompt detail · the verge · 2026-02-23 (day) · original ID: src-hp-verge-anthropic · Other public citations of this URL
"censorship-safe" prompt detail; openai letter quote
>$500b nvidia loss · the verge · 2025-01 (month) · original ID: src-hp-verge-deepseek · Other public citations of this URL
>$500b nvidia loss; r1 $5.6m claim; "agi" liang quote
the information: passports held by high-flyer · the verge · 2025-03 (month) · original ID: src-hp-verge-passports · Other public citations of this URL
the information: passports held by high-flyer
full-text mirror used for verbatim quotes · wallstreetcn.com · 2024-07-18 (day) · original ID: src-hp-wallstreetcn-interview2 · Other public citations of this URL
full-text mirror used for verbatim quotes
17 jul 2023 founding · wikipedia · 2026-09 (month) · original ID: src-hp-wiki-deepseek · Other public citations of this URL
17 jul 2023 founding; 160 staff; release table; anthropic note
feb 2016 incorporation · wikipedia · 2026-09 (month) · original ID: src-hp-wiki-highflyer · Other public citations of this URL
feb 2016 incorporation; founders; aum $10b (dec 2025); 160 staff (2021)
1985 / zhanjiang / zju meng 2010 · wikidata.org · 2026-09 (month) · original ID: src-hp-wikidata-liang · Other public citations of this URL
1985 / zhanjiang / zju meng 2010
letting research reports speak · tthmx.com · 2025-02-25 (day) · original ID: src-hp-xinhua-office · Other public citations of this URL
"letting research reports speak"; api pricing change note
same text, dated · xueqiu.com · 2019-09-09 (day) · original ID: src-hp-xueqiu-speech · Other public citations of this URL
same text, dated; "基金经理就是一堆服务器"

Structured research records

the classmates · deepseek-eras · 2008–2015 (approximate)

Original location

Original structured fields

{
  "id": "origins",
  "range": "2008–2015",
  "summary": "liang wenfeng and his zhejiang university classmates start automating stock trades during the financial crisis, incorporate jacobi in 2013, and register the fund that becomes high-flyer in june 2015.",
  "title": "the classmates"
}

the ai fund · deepseek-eras · 2016–2021 (approximate)

Original location

Original structured fields

{
  "id": "quant",
  "range": "2016–2021",
  "summary": "high-flyer turns into an ai fund — the first deep-learning trade in 2016, all-ai strategies by 2017, a golden bull award, the first fire-flyer cluster, and a ~rmb 100b peak that ends in a public apology for a record drawdown.",
  "title": "the ai fund"
}

the fleet · deepseek-eras · 2021–2023 (approximate)

Original location

Original structured fields

{
  "id": "compute",
  "range": "2021–2023",
  "summary": "the whale buys its fleet: ~10,000 nvidia a100s for fire-flyer ii, all before the october 2022 export controls — the decisive timing fact of the whole history. in april 2023 the fund announces an independent agi lab.",
  "title": "the fleet"
}

the lab · deepseek-eras · 2023–2024 (approximate)

Original location

Original structured fields

{
  "id": "lab",
  "range": "2023–2024",
  "summary": "deepseek incorporates in hangzhou and runs the release ladder — coder, llm, moe, math (grpo), v2's price war, the techno-idealism interview, and v3's 2.788m-gpu-hour final run.",
  "title": "the lab"
}

the shock · deepseek-eras · 2025-01 – 2025-03 (approximate)

Original location

Original structured fields

{
  "id": "shock",
  "range": "2025-01 – 2025-03",
  "summary": "r1 lands on inauguration day, the app passes chatgpt, nvidia loses ~$589b in a session, bans cascade across governments — and liang briefs the premier and attends xi's symposium in the same weeks.",
  "title": "the shock"
}

the scrutiny · deepseek-eras · 2025 (year)

Original location

Original structured fields

{
  "id": "scrutiny",
  "range": "2025",
  "summary": "the year of scrutiny and normalization — passports held, r2 stalled on a failed ascend run, the r1 paper through nature peer review, the rebate scandal on the fund side, and the first poached researchers.",
  "title": "the scrutiny"
}

the incumbent · deepseek-eras · 2026– (approximate)

Original location

Original structured fields

{
  "id": "incumbent",
  "range": "2026–",
  "summary": "the disruptor behaves like an incumbent: the first external raise (~$7.4b at ~$52b reported), v4's preview and ga, api price hikes, ipo prep — and r2 never shipped.",
  "title": "the incumbent"
}

automated trading from the dorms · deepseek-timeline · 2008 (year) · reported (original editorial confidence)

Original location · source-c6f496c3f509bfff1b16 · source-1c38469f6c82221fc41c · source-159e40d5d8fbb4a234f8

Original structured fields

{
  "confidence": "reported",
  "date": "2008",
  "detail": "liang wenfeng and zhejiang university classmates begin exploring fully-automated quantitative trading mid-financial-crisis — scraping market data from trading software with image processing and writing plug-in programs to crack trading interfaces. liang's 2015 retelling starts him with rmb 80,000 of personal capital compounding into nine-figure-rmb wealth — self-reported, unverified. the team is all-zju engineering; none have overseas or institutional trading experience.",
  "era": "origins",
  "id": "evt-zju-trading",
  "sourceIds": [
    "src-hp-bianews-history",
    "src-hp-highflyer-fund-en",
    "src-hp-techcentral-liang"
  ],
  "title": "automated trading from the dorms"
}

the machine-vision master's · deepseek-timeline · 2010 (year) · reported (original editorial confidence)

Original location · source-c2d911be8ca658ef522a · source-a6a8ae6a67ff12c29353 · source-c6f496c3f509bfff1b16

Original structured fields

{
  "confidence": "reported",
  "date": "2010",
  "detail": "liang completes his meng at zju — advisor xiang zhiyu, thesis on low-cost ptz-camera target tracking — then moves to chengdu to experiment with ai applications, an amac registry listing him as a 'freelancer' until 2013. dji founder wang tao reportedly tried to recruit him on the strength of the machine-vision work.",
  "era": "origins",
  "id": "evt-liang-meng",
  "sourceIds": [
    "src-hp-ie-liang",
    "src-hp-wikidata-liang",
    "src-hp-bianews-history"
  ],
  "title": "the machine-vision master's"
}

jacobi · deepseek-timeline · 2013 (year) · reported (original editorial confidence)

Original location · source-c6f496c3f509bfff1b16 · source-d4fab4f908fd5d313c1f

Original structured fields

{
  "confidence": "reported",
  "date": "2013",
  "detail": "liang and zju classmate xu jin incorporate hangzhou jacobi investment management — named for mathematician c.g.j. jacobi — the direct predecessor of high-flyer.",
  "era": "origins",
  "id": "evt-jacobi",
  "sourceIds": [
    "src-hp-bianews-history",
    "src-hp-sina-jiuzhang"
  ],
  "title": "jacobi"
}

the first fund · deepseek-timeline · 2015-03 (month) · reported (original editorial confidence)

Original location · source-71b74e39a1d4bac5e0a2

Original structured fields

{
  "confidence": "reported",
  "date": "2015-03",
  "detail": "the first fund product launches — 幻方沪深300指数增强1号, a csi-300 index-enhanced strategy.",
  "era": "origins",
  "id": "evt-first-fund",
  "sourceIds": [
    "src-hp-jiemian-scale"
  ],
  "title": "the first fund"
}

high-flyer registered · deepseek-timeline · 2015-06-11 (day) · confirmed (original editorial confidence)

Original location · source-de05b1568172fbde5774 · source-7592ba3c922d6fa62000 · source-c6f496c3f509bfff1b16

Original structured fields

{
  "confidence": "confirmed",
  "date": "2015-06-11",
  "detail": "hangzhou high-flyer technology is registered — later renamed zhejiang jiuzhang asset management ('nine chapters' honors the classical math text). the official history lists 2015 as the founding year; the brand 幻方 ('magic square') references the luoshu diagram. xu jin is the legal representative.",
  "era": "origins",
  "id": "evt-highflyer-registered",
  "sourceIds": [
    "src-hp-qcc-jiuzhang",
    "src-hp-highflyer-history",
    "src-hp-bianews-history"
  ],
  "title": "high-flyer registered"
}

the ningbo lp · deepseek-timeline · 2016-02-15 (day) · confirmed (original editorial confidence)

Original location · source-3eca6e8c6cba65f303de · source-e1e2224fa0e14ed36642

Original structured fields

{
  "confidence": "confirmed",
  "date": "2016-02-15",
  "detail": "the ningbo high-flyer quantitative investment management partnership is incorporated (amac p1032021) — the second regulated entity, and the reason some english sources give 'february 2016' as the founding date.",
  "era": "quant",
  "id": "evt-ningbo-lp",
  "sourceIds": [
    "src-hp-simuwang-xujin",
    "src-hp-wiki-highflyer"
  ],
  "title": "the ningbo lp"
}

the first deep-learning trade · deepseek-timeline · 2016-10-21 (day) · reported (original editorial confidence)

Original location · source-7592ba3c922d6fa62000

Original structured fields

{
  "confidence": "reported",
  "date": "2016-10-21",
  "detail": "the first live stock position generated by a deep-learning model goes on the books, gpu-computed — per high-flyer's own timeline, which is the only account.",
  "era": "quant",
  "id": "evt-first-dl-trade",
  "sourceIds": [
    "src-hp-highflyer-history"
  ],
  "title": "the first deep-learning trade"
}

all-ai strategies · deepseek-timeline · 2017 (year) · reported (original editorial confidence)

Original location · source-7592ba3c922d6fa62000

Original structured fields

{
  "confidence": "reported",
  "date": "2017",
  "detail": "'almost all' quant strategies run on ai models by year-end — self-reported on the official timeline.",
  "era": "quant",
  "id": "evt-all-ai",
  "sourceIds": [
    "src-hp-highflyer-history"
  ],
  "title": "all-ai strategies"
}

the golden bull · deepseek-timeline · 2018 (year) · confirmed (original editorial confidence)

Original location · source-7592ba3c922d6fa62000

Original structured fields

{
  "confidence": "confirmed",
  "date": "2018",
  "detail": "the first golden bull award — china's top private-fund prize — and the company formally sets ai as its primary direction, beginning the hunt for large-scale compute.",
  "era": "quant",
  "id": "evt-goldenbull",
  "sourceIds": [
    "src-hp-highflyer-history"
  ],
  "title": "the golden bull"
}

the 百亿 fund · deepseek-timeline · 2019 (year) · confirmed (original editorial confidence)

Original location · source-7592ba3c922d6fa62000 · source-a9f29c900b0978c8646b · source-e1e2224fa0e14ed36642

Original structured fields

{
  "confidence": "confirmed",
  "date": "2019",
  "detail": "aum passes rmb 10b ('百亿私募'); high-flyer capital management hong kong takes an sfc type-9 license; the 幻方ai research company is registered for 'ai algorithm and basic-application research.' liang gives a rare public speech at the golden bull forum — 'a quant has no fund managers; the fund manager is a rack of servers.'",
  "era": "quant",
  "id": "evt-10b",
  "sourceIds": [
    "src-hp-highflyer-history",
    "src-hp-xueqiu-speech",
    "src-hp-wiki-highflyer"
  ],
  "title": "the 百亿 fund"
}

fire-flyer i · deepseek-timeline · 2020 (year) · reported (original editorial confidence)

Original location · source-7592ba3c922d6fa62000 · source-2ca7d11d4162361c0540

Original structured fields

{
  "confidence": "reported",
  "date": "2020",
  "detail": "fire-flyer i enters service — ~rmb 200m and 1,100 accelerator cards on 200gbps interconnect. it retires about a year and a half later, a practice fleet.",
  "era": "quant",
  "id": "evt-fireflyer1",
  "sourceIds": [
    "src-hp-highflyer-history",
    "src-hp-coinlive-funding"
  ],
  "title": "fire-flyer i"
}

the 千亿 peak · deepseek-timeline · 2021 (year) · reported (original editorial confidence)

Original location · source-ecb6df6769efa93d8500 · source-15d222f726d323cd44c8 · source-38421ced8256d7f8f0cb

Original structured fields

{
  "confidence": "reported",
  "date": "2021",
  "detail": "the portfolio peaks — reuters: 'totalled over 100 billion yuan by end of 2021' (~$14b). on 15 november the fund halts all new subscriptions; on 25 november it waives rmb-fund redemption fees.",
  "era": "quant",
  "id": "evt-aum-peak",
  "sourceIds": [
    "src-hp-reuters-liang",
    "src-hp-ndtv",
    "src-hp-stcn-apology"
  ],
  "title": "the 千亿 peak"
}

the apology · deepseek-timeline · 2021-12-28 (day) · confirmed (original editorial confidence)

Original location · source-38421ced8256d7f8f0cb · source-122018baa9bebfa8aa6f

Original structured fields

{
  "confidence": "confirmed",
  "date": "2021-12-28",
  "detail": "the fund's first public crisis: a record 10.66% max drawdown across 497 products. an executive's wechat apology circulates on the 27th — 'we'll fully accept the scolding, just please don't hit us' — and the official statement follows on the 28th: 'the drawdown reached a historical maximum; we are deeply ashamed,' blaming long-horizon ai holdings and industry-wide strategy crowding.",
  "era": "quant",
  "id": "evt-apology",
  "sourceIds": [
    "src-hp-stcn-apology",
    "src-hp-thepaper-apology"
  ],
  "title": "the apology"
}

fire-flyer ii · deepseek-timeline · 2021 (year) · confirmed (original editorial confidence)

Original location · source-7592ba3c922d6fa62000 · source-f883c0066115a7ba77a8 · source-2eb5c8e34f8413bc15d5 · source-46bda2a0dd78fee15759

Original structured fields

{
  "confidence": "confirmed",
  "date": "2021",
  "detail": "~rmb 1b goes into fire-flyer ii — ~10,000 nvidia a100 (pcie) gpus with a task-level time-sharing scheduler, the self-built 3fs file system, hfreduce, and hfai.nn. all bought before the october 2022 export controls; per 36kr, high-flyer was 'the only company outside the big tech platforms stockpiling 10,000 a100s.'",
  "era": "compute",
  "id": "evt-fireflyer2",
  "sourceIds": [
    "src-hp-highflyer-history",
    "src-hp-fireflyer-paper",
    "src-hp-hfai-blog",
    "src-hp-wallstreetcn-interview2"
  ],
  "title": "fire-flyer ii"
}

the cluster at work · deepseek-timeline · 2022 (year) · reported (original editorial confidence)

Original location · source-7592ba3c922d6fa62000 · source-2eb5c8e34f8413bc15d5

Original structured fields

{
  "confidence": "reported",
  "date": "2022",
  "detail": "the cluster's self-reported year: ≥96% average occupancy, 1.35m jobs, 56.74m gpu-hours — and ~27% of capacity donated as idle-time compute to 50+ university and institute labs.",
  "era": "compute",
  "id": "evt-cluster-2022",
  "sourceIds": [
    "src-hp-highflyer-history",
    "src-hp-hfai-blog"
  ],
  "title": "the cluster at work"
}

the export controls · deepseek-timeline · 2022-10-07 (day) · confirmed (original editorial confidence)

Original location · source-defd08e005ba8cc18fc4 · source-9137fb6b8cffc060bbc8

Original structured fields

{
  "confidence": "confirmed",
  "date": "2022-10-07",
  "detail": "us export controls ban a100/h100 sales to china; the october 2023 rules close the a800/h800 workaround variants. every gpu in the fire-flyer ii fleet was already bought.",
  "era": "compute",
  "id": "evt-export-controls",
  "sourceIds": [
    "src-hp-allen-testimony",
    "src-hp-asiatimes"
  ],
  "title": "the export controls"
}

an ordinary little pig · deepseek-timeline · 2022 (year) · confirmed (original editorial confidence)

Original location · source-7592ba3c922d6fa62000

Original structured fields

{
  "confidence": "confirmed",
  "date": "2022",
  "detail": "the philanthropy year: the group donates rmb 221.38m across 15 charities, and liang personally gives rmb 138m under the pseudonym 一只平凡的小猪 — 'an ordinary little pig' — listed on high-flyer's own history page.",
  "era": "compute",
  "id": "evt-charity-2022",
  "sourceIds": [
    "src-hp-highflyer-history"
  ],
  "title": "an ordinary little pig"
}

the agi pivot · deepseek-timeline · 2023-04 (month) · confirmed (original editorial confidence)

Original location · source-26637454d92be20d65a8 · source-812eb6b61a18c20809ae · source-677a40c24566daf613e1

Original structured fields

{
  "confidence": "confirmed",
  "date": "2023-04",
  "detail": "high-flyer announces it will concentrate resources on agi in a new, independent research organization 'separate from finance,' quoting truffaut's advice to young directors: 'be desperately ambitious, and desperately sincere.' the date is mid-april — the 36kr interview gives the 11th; most coverage cites the 14th.",
  "era": "compute",
  "id": "evt-agi-announce",
  "sourceIds": [
    "src-hp-36kr-interview1",
    "src-hp-wiki-deepseek",
    "src-hp-jamestown"
  ],
  "title": "the agi pivot"
}

深度求索 · deepseek-timeline · 2023-05 (month) · confirmed (original editorial confidence)

Original location · source-26637454d92be20d65a8

Original structured fields

{
  "confidence": "confirmed",
  "date": "2023-05",
  "detail": "the new org is named 深度求索 — deepseek, echoing qu yuan's 求索, 'to seek.' liang's first-ever interview runs in 36kr/暗涌: 'our llm work has nothing directly to do with quant or finance.'",
  "era": "lab",
  "id": "evt-deepseek-named",
  "sourceIds": [
    "src-hp-36kr-interview1"
  ],
  "title": "深度求索"
}

incorporated in hangzhou · deepseek-timeline · 2023-07-17 (day) · confirmed (original editorial confidence)

Original location · source-cc3d2ced3ae4e73b758f · source-812eb6b61a18c20809ae · source-993929a8b6914165afe8 · source-43a9985c11d0794bde54

Original structured fields

{
  "confidence": "confirmed",
  "date": "2023-07-17",
  "detail": "hangzhou deepseek artificial intelligence basic technology research co., ltd. is incorporated — rmb 10m registered capital. liang holds 1% directly and ~99% sits with a ningbo limited partnership he controls through nested vehicles — ~84% effective ownership reported. no high-flyer entity appears on the cap table; the funding link is liang himself plus shared people and compute.",
  "era": "lab",
  "id": "evt-incorporated",
  "sourceIds": [
    "src-hp-dehehantong-equity",
    "src-hp-wiki-deepseek",
    "src-hp-legalclarity",
    "src-hp-champsignal"
  ],
  "title": "incorporated in hangzhou"
}

deepseek coder · deepseek-timeline · 2023-11-02 (day) · confirmed (original editorial confidence)

Original location · source-a72404df624108a1888f

Original structured fields

{
  "confidence": "confirmed",
  "date": "2023-11-02",
  "detail": "deepseek coder — 1b to 33b parameters trained on 2t tokens — is the lab's first public model.",
  "era": "lab",
  "id": "evt-coder",
  "sourceIds": [
    "src-hp-deepseekcoder-github"
  ],
  "title": "deepseek coder"
}

deepseek-llm · deepseek-timeline · 2023-11-29 (day) · confirmed (original editorial confidence)

Original location · source-9e80d3a4c7cbf57315d5

Original structured fields

{
  "confidence": "confirmed",
  "date": "2023-11-29",
  "detail": "deepseek-llm 7b/67b — the dense base-model pair.",
  "era": "lab",
  "id": "evt-llm",
  "sourceIds": [
    "src-hp-deepseekllm-github"
  ],
  "title": "deepseek-llm"
}

deepseekmoe · deepseek-timeline · 2024-01 (month) · confirmed (original editorial confidence)

Original location · source-4edfef6dd3088bcc01ca

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-01",
  "detail": "deepseekmoe — the mixture-of-experts architecture line that v2 scales up.",
  "era": "lab",
  "id": "evt-moe",
  "sourceIds": [
    "src-hp-history-guide"
  ],
  "title": "deepseekmoe"
}

deepseekmath and grpo · deepseek-timeline · 2024-02-05 (day) · confirmed (original editorial confidence)

Original location · source-62466ce59deaf63f7854

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-02-05",
  "detail": "deepseekmath 7b introduces grpo — group relative policy optimization, the rl algorithm that will later drive r1. the author list names zhihong shao, peiyi wang, and daya guo.",
  "era": "lab",
  "id": "evt-math-grpo",
  "sourceIds": [
    "src-hp-deepseekmath-github"
  ],
  "title": "deepseekmath and grpo"
}

the price war · deepseek-timeline · 2024-05-06 (day) · confirmed (original editorial confidence)

Original location · source-46bda2a0dd78fee15759 · source-4edfef6dd3088bcc01ca · source-6ee5437c7f7ced4f3be5 · source-119c3416217785f5efc3

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-05-06",
  "detail": "deepseek-v2 — 236b moe with mla and deepseekmoe — launches at ~rmb 1 per million input tokens and ignites china's llm price war: bytedance, alibaba, baidu, and tencent follow with cuts of 80–97%. semianalysis calls the paper possibly the year's best; jack clark calls the team 'a squad of unfathomable geniuses.' liang: 'we didn't mean to be a catfish; we just accidentally became one.'",
  "era": "lab",
  "id": "evt-v2-pricewar",
  "sourceIds": [
    "src-hp-wallstreetcn-interview2",
    "src-hp-history-guide",
    "src-ci-followin-pricewar",
    "src-ci-techflow-doubao"
  ],
  "title": "the price war"
}

coder-v2 · deepseek-timeline · 2024-06-17 (day) · confirmed (original editorial confidence)

Original location · source-4edfef6dd3088bcc01ca

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-06-17",
  "detail": "deepseek-coder-v2 — the code line catches up to the v2 architecture.",
  "era": "lab",
  "id": "evt-coderv2",
  "sourceIds": [
    "src-hp-history-guide"
  ],
  "title": "coder-v2"
}

the techno-idealism interview · deepseek-timeline · 2024-07-17 (day) · confirmed (original editorial confidence)

Original location · source-7d9af6373861d40c3e06 · source-46bda2a0dd78fee15759

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-07-17",
  "detail": "the second 36kr/暗涌 interview — the canonical 'chinese techno-idealism' text: 'the real gap is originality vs. imitation'; 'open source is a cultural act more than a commercial one'; 'our problem has never been money — it's the embargo on high-end chips.'",
  "era": "lab",
  "id": "evt-interview2",
  "sourceIds": [
    "src-hp-36kr-interview2",
    "src-hp-wallstreetcn-interview2"
  ],
  "title": "the techno-idealism interview"
}

the fire-flyer paper · deepseek-timeline · 2024-08 (month) · confirmed (original editorial confidence)

Original location · source-f883c0066115a7ba77a8 · source-ce36306c319c9c46cd1e

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-08",
  "detail": "the fire-flyer ai-hpc paper is published for sc24 — ~10,000 pcie a100s approximating dgx-a100 performance at ~half the cost and 60% of the energy. the ~50-author list is signed 'deepseek ai' and includes wenfeng liang: the fund's infrastructure team becoming the lab, on paper.",
  "era": "lab",
  "id": "evt-fireflyer-paper",
  "sourceIds": [
    "src-hp-fireflyer-paper",
    "src-hp-sc24"
  ],
  "title": "the fire-flyer paper"
}

v2.5 · deepseek-timeline · 2024-09-05 (day) · confirmed (original editorial confidence)

Original location · source-4edfef6dd3088bcc01ca

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-09-05",
  "detail": "deepseek-v2.5 merges the chat and coder lines.",
  "era": "lab",
  "id": "evt-v25",
  "sourceIds": [
    "src-hp-history-guide"
  ],
  "title": "v2.5"
}

the neutral exit · deepseek-timeline · 2024-10-19 (day) · reported (original editorial confidence)

Original location · source-fc33898eac1c8e849cc2 · source-8128cf9661dc46c9dbfd · source-c3886b039262683c776a

Original structured fields

{
  "confidence": "reported",
  "date": "2024-10-19",
  "detail": "high-flyer tells investors it will cut all hedged-product positions to zero and waive their management fees — exiting the market-neutral strategy after the a-share rally crushes it. bloomberg puts zhejiang high-flyer above rmb 50b at the time.",
  "era": "lab",
  "id": "evt-neutral-exit",
  "sourceIds": [
    "src-hp-nbd-neutral",
    "src-hp-bloomberg-neutral",
    "src-hp-qq-neutral"
  ],
  "title": "the neutral exit"
}

r1-lite-preview · deepseek-timeline · 2024-11-20 (day) · confirmed (original editorial confidence)

Original location · source-812eb6b61a18c20809ae

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-11-20",
  "detail": "r1-lite-preview — the reasoning model's first public outing, api and web only.",
  "era": "lab",
  "id": "evt-r1-lite",
  "sourceIds": [
    "src-hp-wiki-deepseek"
  ],
  "title": "r1-lite-preview"
}

vl2 · deepseek-timeline · 2024-12-13 (day) · confirmed (original editorial confidence)

Original location · source-4edfef6dd3088bcc01ca

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-12-13",
  "detail": "deepseek-vl2 — the vision-language line.",
  "era": "lab",
  "id": "evt-vl2",
  "sourceIds": [
    "src-hp-history-guide"
  ],
  "title": "vl2"
}

deepseek-v3 · deepseek-timeline · 2024-12-26 (day) · confirmed (original editorial confidence)

Original location · source-d426f5b28d24765d031f · source-defd08e005ba8cc18fc4 · source-d7a57c2e1998efa3a3be

Original structured fields

{
  "confidence": "confirmed",
  "date": "2024-12-26",
  "detail": "deepseek-v3 — 671b total / 37b active moe, 14.8t tokens — ships open-weights with a technical report claiming 2.788m h800 gpu-hours ≈ $5.576m for the final pre-training run only, at an assumed $2/gpu-hour. silicon valley notices; the number the world will misread is now in print.",
  "era": "lab",
  "id": "evt-v3",
  "sourceIds": [
    "src-hp-tencent-quant",
    "src-hp-allen-testimony",
    "src-hp-nextplatform"
  ],
  "title": "deepseek-v3"
}

the app · deepseek-timeline · 2025-01-10 (day) · confirmed (original editorial confidence)

Original location · source-01f58514095a727a1e1b · source-7718858dd1715ea615fe

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-10",
  "detail": "the deepseek assistant app hits the app store and google play (~jan 10; the official news post follows jan 15).",
  "era": "shock",
  "id": "evt-app",
  "sourceIds": [
    "src-hp-mobiledevmemo",
    "src-hp-app-news"
  ],
  "title": "the app"
}

r1 and the premier · deepseek-timeline · 2025-01-20 (day) · confirmed (original editorial confidence)

Original location · source-812eb6b61a18c20809ae · source-3f2d8eac05e7c54ec2d9 · source-ecb6df6769efa93d8500

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-20",
  "detail": "deepseek-r1 ships open-weights under mit — plus r1-zero and six distilled models. the same day, liang attends premier li qiang's symposium on the draft government work report as one of nine speakers — the split-screen that defined the week.",
  "era": "shock",
  "id": "evt-r1",
  "sourceIds": [
    "src-hp-wiki-deepseek",
    "src-hp-scmp-liqiang",
    "src-hp-reuters-liang"
  ],
  "title": "r1 and the premier"
}

the sputnik post · deepseek-timeline · 2025-01-24 (day) · confirmed (original editorial confidence)

Original location · source-0d323069109cd503c3ac · source-50c60f4e5972aaeaafca

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-24",
  "detail": "andreessen posts: 'deepseek r1 is one of the most amazing and impressive breakthroughs i've ever seen — and as open source, a profound gift to the world' — and calls it 'ai's sputnik moment.'",
  "era": "shock",
  "id": "evt-sputnik",
  "sourceIds": [
    "src-hp-cbs-nvidia",
    "src-ci-fortune-andreessen-sputnik"
  ],
  "title": "the sputnik post"
}

#1 in the app store · deepseek-timeline · 2025-01-26 (day) · confirmed (original editorial confidence)

Original location · source-e204c7c4cc63a438ef9c · source-30f59793945bd76dfd66

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-26",
  "detail": "the deepseek app passes chatgpt to #1 free app on the us app store — and tops the charts in 51 other countries per appfigures.",
  "era": "shock",
  "id": "evt-appstore",
  "sourceIds": [
    "src-hp-techcrunch-appstore",
    "src-ci-bi-appstore"
  ],
  "title": "#1 in the app store"
}

the crash · deepseek-timeline · 2025-01-27 (day) · confirmed (original editorial confidence)

Original location · source-0d323069109cd503c3ac · source-89dd736cd59c97b0c4e3 · source-84db76bf41d27455d79d · source-24bc6c94cf16c17601a0 · source-9a413c20e54567935931

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-27",
  "detail": "the market shock: nvidia −17%, ~$589–600b of market cap — the largest single-day loss for a us company on record; broadcom −17%; nasdaq −3.1%; ~$1t wiped overall. trump calls it 'a wake-up call.' deepseek limits new registrations, citing 'large-scale malicious attacks.'",
  "era": "shock",
  "id": "evt-crash",
  "sourceIds": [
    "src-hp-cbs-nvidia",
    "src-hp-fortune",
    "src-hp-verge-deepseek",
    "src-ci-nbc-trump-wakeup",
    "src-ci-computerweekly-sputnik"
  ],
  "title": "the crash"
}

janus into the chaos · deepseek-timeline · 2025-01-28 (day) · confirmed (original editorial confidence)

Original location · source-812eb6b61a18c20809ae · source-73f61ebd65df9db31288 · source-c5d84f85caa3698435d6

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-28",
  "detail": "janus-pro-7b — the multimodal model — ships into the chaos. on the 29th, wiz discloses an exposed, unauthenticated deepseek clickhouse database holding chat history, api secrets, and backend details; it is secured after disclosure.",
  "era": "shock",
  "id": "evt-janus",
  "sourceIds": [
    "src-hp-wiki-deepseek",
    "src-ci-wiz-database",
    "src-ci-techcrunch-database"
  ],
  "title": "janus into the chaos"
}

the distillation claim · deepseek-timeline · 2025-01-29 (day) · reported (original editorial confidence)

Original location · source-3641b359a61ac4b744b9 · source-182bee2f176ffacc3d1c · source-1272d07d71a2a942c798

Original structured fields

{
  "confidence": "reported",
  "date": "2025-01-29",
  "detail": "openai tells the ft it has evidence linking deepseek to distillation of its models; microsoft reportedly flagged suspicious api exfiltration via openai developer accounts in late 2024; david sacks claims 'substantial evidence.' no public evidence drop ever follows — the claim stands as reported accusation, not demonstrated finding.",
  "era": "shock",
  "id": "evt-distill-claim",
  "sourceIds": [
    "src-hp-gizmodo-distill",
    "src-ci-verge-distillation",
    "src-ci-axios-distillation"
  ],
  "title": "the distillation claim"
}

the ban cascade · deepseek-timeline · 2025-01-30 (day) · confirmed (original editorial confidence)

Original location · source-937efed84be91774340f · source-dc776671c9f3c4948161 · source-1c293a1bc3fbe51df4d3 · source-1fe6996983075c391790 · source-9c840180abfe37280a5a

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-01-30",
  "detail": "the ban cascade opens: italy's garante orders deepseek blocked — the first country — calling its response 'totally insufficient.' the us navy and nasa follow; texas takes the first state ban on the 31st; australia, taiwan, and korean ministries follow into february.",
  "era": "shock",
  "id": "evt-bans",
  "sourceIds": [
    "src-hp-reuters-italy",
    "src-hp-cnbc-nasa",
    "src-hp-ap-texas",
    "src-hp-techcrunch-bans",
    "src-hp-aljazeera-bans"
  ],
  "title": "the ban cascade"
}

the commerce probe · deepseek-timeline · 2025-01-31 (day) · reported (original editorial confidence)

Original location · source-8b5f13969d3b3aea3d3c

Original structured fields

{
  "confidence": "reported",
  "date": "2025-01-31",
  "detail": "reuters reports us commerce is probing whether deepseek used restricted chips; organized smuggling is tracked through malaysia, singapore, and the uae.",
  "era": "shock",
  "id": "evt-commerce-probe",
  "sourceIds": [
    "src-hp-reuters-chips"
  ],
  "title": "the commerce probe"
}

the xi symposium · deepseek-timeline · 2025-02-17 (day) · confirmed (original editorial confidence)

Original location · source-28cc97fb0d26083b8aa2 · source-c20858d7f836aae92680

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-02-17",
  "detail": "liang attends xi jinping's closed-door private-enterprise symposium — seated near the front alongside jack ma, pony ma, ren zhengfei, wang chuanfu, and lei jun; attendance is state-media confirmed via yuyuantantian. 'deepseek fever' sweeps china through february and march — telecoms, hospitals, and local governments deploy r1; tencent builds it into wechat search.",
  "era": "shock",
  "id": "evt-xi-symposium",
  "sourceIds": [
    "src-hp-standard-xi",
    "src-hp-techcrunch-xi"
  ],
  "title": "the xi symposium"
}

open source week · deepseek-timeline · 2025-02-24 (day) · confirmed (original editorial confidence)

Original location · source-33ba29e041890906221d · source-9ae98ed20f2b0e373b16

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-02-24",
  "detail": "open source week — six daily drops: flashmla, deepep, deepgemm, dualpipe and eplb with profile data, then 3fs and smallpond. the fund's internal infrastructure stack becomes public goods.",
  "era": "shock",
  "id": "evt-open-source-week",
  "sourceIds": [
    "src-hp-openinfra",
    "src-hp-flashmla"
  ],
  "title": "open source week"
}

the 545% figure · deepseek-timeline · 2025-02-27 (day) · confirmed (original editorial confidence)

Original location · source-3e40c4c6e119582e87bd · source-c7a47b47e6bbe5f34aa0

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-02-27",
  "detail": "the lab closes the week by disclosing a theoretical 545% daily profit margin on v3/r1 inference — flagged 'purely theoretical' in its own post, quoted without the caveat for months after.",
  "era": "shock",
  "id": "evt-545-margin",
  "sourceIds": [
    "src-ci-scmp-545-margin",
    "src-ci-gigazine-545"
  ],
  "title": "the 545% figure"
}

the lobby pilgrimage · deepseek-timeline · 2025-02 (month) · confirmed (original editorial confidence)

Original location · source-6d157aa17129ee473ffa · source-0a39fc27289e00e29a1b · source-f09137deb689392a5443

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-02",
  "detail": "the huijin international mansion lobby — deepseek's registered address, in the same complex as high-flyer — becomes a pilgrimage site: 40–50 visitor batches a day at peak, foreign tourists included. the company declines all interviews and lets the papers speak.",
  "era": "shock",
  "id": "evt-pilgrimage",
  "sourceIds": [
    "src-hp-huacheng-office",
    "src-hp-21jingji-office",
    "src-hp-xinhua-office"
  ],
  "title": "the lobby pilgrimage"
}

the passports · deepseek-timeline · 2025-03 (month) · reported (original editorial confidence)

Original location · source-ed418525e27112e65f75 · source-a127500f75d2eb74d55f · source-43d69cb89bcae244f954

Original structured fields

{
  "confidence": "reported",
  "date": "2025-03",
  "detail": "the information reports some deepseek staff must surrender passports to high-flyer; zhejiang officials screen would-be investors; the wsj reports beijing warned top ai founders against us travel.",
  "era": "scrutiny",
  "id": "evt-passports",
  "sourceIds": [
    "src-hp-verge-passports",
    "src-hp-decoder-travel",
    "src-hp-techcrunch-watch"
  ],
  "title": "the passports"
}

v3-0324 · deepseek-timeline · 2025-03-24 (day) · confirmed (original editorial confidence)

Original location · source-812eb6b61a18c20809ae

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-03-24",
  "detail": "deepseek-v3-0324 ships under mit — the quiet checkpoint refresh.",
  "era": "scrutiny",
  "id": "evt-v3-0324",
  "sourceIds": [
    "src-hp-wiki-deepseek"
  ],
  "title": "v3-0324"
}

the rich list · deepseek-timeline · 2025-03-27 (day) · reported (original editorial confidence)

Original location · source-85184052b57891857a95

Original structured fields

{
  "confidence": "reported",
  "date": "2025-03-27",
  "detail": "liang debuts on the hurun global rich list at rmb 33b (~$4.6b) — >80% of deepseek per hurun's accounting.",
  "era": "scrutiny",
  "id": "evt-hurun",
  "sourceIds": [
    "src-hp-technode-hurun"
  ],
  "title": "the rich list"
}

the h20 license · deepseek-timeline · 2025-04-09 (day) · confirmed (original editorial confidence)

Original location · source-63eb7d92af80bec53def · source-b97ab1464b21c9e062cb

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-04-09",
  "detail": "the us requires licenses for h20 sales to china — the last compliant channel closes. on april 17 jensen huang flies to beijing and meets liang to discuss compliant next-gen chip designs, per the ft.",
  "era": "scrutiny",
  "id": "evt-h20-ban",
  "sourceIds": [
    "src-hp-guardian-huang",
    "src-hp-irishtimes-huang"
  ],
  "title": "the h20 license"
}

prover-v2 · deepseek-timeline · 2025-04-30 (day) · confirmed (original editorial confidence)

Original location · source-f20b1c3ab05d3fd05f56

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-04-30",
  "detail": "deepseek-prover-v2 — 7b plus the 671b teacher — for lean 4 theorem proving.",
  "era": "scrutiny",
  "id": "evt-prover2",
  "sourceIds": [
    "src-hp-prover-github"
  ],
  "title": "prover-v2"
}

r1-0528 · deepseek-timeline · 2025-05-28 (day) · confirmed (original editorial confidence)

Original location · source-9f38f053302d1d1cdcad · source-72e1754813ac49e1c026

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-05-28",
  "detail": "r1-0528 — stronger reasoning, fewer hallucinations, json and function calling. zvi's post-mortem: it 'did not have a moment.'",
  "era": "scrutiny",
  "id": "evt-r1-0528",
  "sourceIds": [
    "src-hp-scriptbyai-timeline",
    "src-ci-zvi-r1-0528"
  ],
  "title": "r1-0528"
}

r2 stalls · deepseek-timeline · 2025-06-26 (day) · reported (original editorial confidence)

Original location · source-5254416a4aa32e69acee

Original structured fields

{
  "confidence": "reported",
  "date": "2025-06-26",
  "detail": "the information via reuters: r2 is stalled — liang unsatisfied with performance — and the nvidia h20 shortage clouds the rollout.",
  "era": "scrutiny",
  "id": "evt-r2-stall",
  "sourceIds": [
    "src-hp-reuters-r2june"
  ],
  "title": "r2 stalls"
}

the rebate scandal · deepseek-timeline · 2025-08-07 (day) · reported (original editorial confidence)

Original location · source-cbb746594c2fcceb4ec1 · source-3dc4a44e46a2fee41c56

Original structured fields

{
  "confidence": "reported",
  "date": "2025-08-07",
  "detail": "the fund's governance stain: caixin-linked reporting details a 2018–2023 scheme in which high-flyer marketing director li cheng and a china merchants securities branch manager skimmed ~rmb 118m of trading-commission rebates through a fake-broker arrangement — over rmb 20m to li personally. high-flyer says it was individual misconduct the company was unaware of.",
  "era": "scrutiny",
  "id": "evt-rebate-scandal",
  "sourceIds": [
    "src-hp-qq-corruption",
    "src-hp-sina-corruption"
  ],
  "title": "the rebate scandal"
}

the ascend failure · deepseek-timeline · 2025-08-14 (day) · reported (original editorial confidence)

Original location · source-f4e1c5a1750ec189fc8d · source-817563407a2f8ae8e0e5 · source-9e1162a99531952591bf

Original structured fields

{
  "confidence": "reported",
  "date": "2025-08-14",
  "detail": "the ft via reuters: r2 was delayed after a failed training run on huawei ascend — huawei sent an engineer team onsite and the run still failed. deepseek returns to nvidia for training and keeps ascend for inference only.",
  "era": "scrutiny",
  "id": "evt-ascend-fail",
  "sourceIds": [
    "src-hp-reuters-r2ft",
    "src-hp-register-huawei",
    "src-ci-decoder-ascend"
  ],
  "title": "the ascend failure"
}

v3.1 · deepseek-timeline · 2025-08-21 (day) · confirmed (original editorial confidence)

Original location · source-9f38f053302d1d1cdcad · source-20e732fddb4805b4c1a7 · source-30eec867c73b648ef04d

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-08-21",
  "detail": "deepseek-v3.1 — hybrid think/non-think modes and ~840b additional training tokens. a wechat comment noting its ue8m0-fp8 format is 'for next-generation domestic chips' rallies chinese chip stocks.",
  "era": "scrutiny",
  "id": "evt-v31",
  "sourceIds": [
    "src-hp-scriptbyai-timeline",
    "src-hp-model-history",
    "src-ci-theregister-v31"
  ],
  "title": "v3.1"
}

the first cfo · deepseek-timeline · 2025-09 (month) · reported (original editorial confidence)

Original location · source-f25751f7e938ed6994e8

Original structured fields

{
  "confidence": "reported",
  "date": "2025-09",
  "detail": "the lab hires its first cfo — yan wentao, b.1991, a former hillhouse ventures partner whose portfolio included minimax and zhipu — widely read as fundraising groundwork.",
  "era": "scrutiny",
  "id": "evt-cfo",
  "sourceIds": [
    "src-hp-163-cfo"
  ],
  "title": "the first cfo"
}

the nature paper · deepseek-timeline · 2025-09-17 (day) · confirmed (original editorial confidence)

Original location · source-fe2ab49cafa1e7479fda · source-98a08c72e5925c11a22a · source-86f4c3364d175a765e39

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-09-17",
  "detail": "the r1 paper is published in nature (645:633–638; submitted feb 14, accepted jul 17) — the first major llm to pass full peer review. the review exchange surfaces two disclosures: r1's own rl stage cost ~$294k atop the base model, and deepseek's statement that r1 did not train on openai-generated reasoning examples.",
  "era": "scrutiny",
  "id": "evt-nature-r1",
  "sourceIds": [
    "src-hp-nature-r1",
    "src-ci-nature-secrets",
    "src-ci-sciam-secrets"
  ],
  "title": "the nature paper"
}

v3.2-exp and dsa · deepseek-timeline · 2025-09-29 (day) · confirmed (original editorial confidence)

Original location · source-39bfd703a6bc01ce57eb · source-67b038bea580708d2b92

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-09-29",
  "detail": "v3.2-exp debuts deepseek sparse attention — and ships day-1 huawei ascend/cann and vllm support alongside it.",
  "era": "scrutiny",
  "id": "evt-v32-exp",
  "sourceIds": [
    "src-hp-v32-github",
    "src-ci-tomshardware-v32-cann"
  ],
  "title": "v3.2-exp and dsa"
}

math-v2 · deepseek-timeline · 2025-11-27 (day) · confirmed (original editorial confidence)

Original location · source-b450fefeb7bbba346aa0 · source-a8c937f581bb5fb52db8

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-11-27",
  "detail": "deepseekmath-v2 — self-verifiable theorem proving — posts gold-level imo-2025 and cmo-2024 results and 118/120 on putnam 2024 with scaled test-time compute.",
  "era": "scrutiny",
  "id": "evt-mathv2",
  "sourceIds": [
    "src-hp-mathv2",
    "src-hp-mathv2-github"
  ],
  "title": "math-v2"
}

v3.2 · deepseek-timeline · 2025-12-01 (day) · confirmed (original editorial confidence)

Original location · source-9f38f053302d1d1cdcad · source-20e732fddb4805b4c1a7

Original structured fields

{
  "confidence": "confirmed",
  "date": "2025-12-01",
  "detail": "deepseek-v3.2 general release, plus the v3.2-speciale heavy-reasoning endpoint.",
  "era": "scrutiny",
  "id": "evt-v32-ga",
  "sourceIds": [
    "src-hp-scriptbyai-timeline",
    "src-hp-model-history"
  ],
  "title": "v3.2"
}

the poaching ground · deepseek-timeline · 2025-12 (month) · reported (original editorial confidence)

Original location · source-615fc6e811d880c1e542 · source-5d3b50fbf9a25058edd5

Original structured fields

{
  "confidence": "reported",
  "date": "2025-12",
  "detail": "the talent-war inversion: the lab that raised unknown graduates becomes the poaching ground — luo fuli (a key v3 architect) to xiaomi mimo, wang bingxuan to tencent hunyuan, chong ruan to deeproute.ai as chief scientist; ~10 names on the v4 report's ~300-author list are flagged former employees.",
  "era": "scrutiny",
  "id": "evt-departures",
  "sourceIds": [
    "src-hp-newsglobe-departures",
    "src-hp-sinocism-departures"
  ],
  "title": "the poaching ground"
}

the whale keeps earning · deepseek-timeline · 2026-01-14 (day) · reported (original editorial confidence)

Original location · source-163791aa6ca5aace8d84

Original structured fields

{
  "confidence": "reported",
  "date": "2026-01-14",
  "detail": "the whale keeps earning: high-flyer's 2025 books close at +56.55% mean product return — #2 among >rmb-10b chinese quant privates — on >rmb 70b aum.",
  "era": "incumbent",
  "id": "evt-hf-2025",
  "sourceIds": [
    "src-hp-21jingji-hf2025"
  ],
  "title": "the whale keeps earning"
}

the anthropic disclosure · deepseek-timeline · 2026-02-23 (day) · reported (original editorial confidence)

Original location · source-bb478ae5f4c65be7342a · source-1f254ba23cad07a970d1 · source-309a63208abf6916850b

Original structured fields

{
  "confidence": "reported",
  "date": "2026-02-23",
  "detail": "anthropic publishes its own account of 'industrial-scale' distillation campaigns — ~24k fraudulent accounts and >16m claude exchanges across deepseek, moonshot, and minimax; deepseek's ~150k+ exchanges are called the most technically sophisticated, including prompts to generate 'censorship-safe' answers on sensitive topics. an openai letter to lawmakers earlier in february alleges ongoing distillation. deepseek has not published a detailed rebuttal.",
  "era": "incumbent",
  "id": "evt-anthropic-distill",
  "sourceIds": [
    "src-hp-anthropic",
    "src-hp-cnbc-anthropic",
    "src-hp-verge-anthropic"
  ],
  "title": "the anthropic disclosure"
}

the v4 preview · deepseek-timeline · 2026-04-24 (day) · confirmed (original editorial confidence)

Original location · source-67270d189292a841e00b · source-b291a7934ebcdd47f322 · source-e138407b6e0e0525d4c9

Original structured fields

{
  "confidence": "confirmed",
  "date": "2026-04-24",
  "detail": "the v4 preview: v4-pro (1.6t total / 49b active) and v4-flash (284b / 13b) with 1m-token context under mit. two days later bloomberg reports the launch was delayed months for deep huawei-ascend optimization, aligning with beijing's chip self-reliance push.",
  "era": "incumbent",
  "id": "evt-v4-preview",
  "sourceIds": [
    "src-hp-v4-news",
    "src-hp-bloomberg-v4delay",
    "src-ci-arxiv-v4"
  ],
  "title": "the v4 preview"
}

the first raise · deepseek-timeline · 2026-05-08 (day) · reported (original editorial confidence)

Original location · source-2ca7d11d4162361c0540 · source-1a96cedb7fe479b764ea · source-e88a522ae67774e24352

Original structured fields

{
  "confidence": "reported",
  "date": "2026-05-08",
  "detail": "the first external funding round ever opens: a ~rmb 300b (~$45b) valuation raising up to rmb 50b, with liang personally injecting up to rmb 20b. alibaba's talks collapsed over ecosystem-binding terms; tencent's proposed ~20% stake was declined; state capital — the national ic fund — is reported the likely lead. the purpose per liang: compute and r&d money, plus a market valuation anchor to retain talent.",
  "era": "incumbent",
  "id": "evt-funding-round",
  "sourceIds": [
    "src-hp-coinlive-funding",
    "src-hp-gate-funding",
    "src-hp-chaincatcher-funding"
  ],
  "title": "the first raise"
}

the round closes · deepseek-timeline · 2026-06 (month) · reported (original editorial confidence)

Original location · source-166ce2be693d1eee1089 · source-48404c80de6b5474976e

Original structured fields

{
  "confidence": "reported",
  "date": "2026-06",
  "detail": "the round reportedly closes: ~$7.4b at a ~$52b valuation per forbes; linkedin lists the round june 1.",
  "era": "incumbent",
  "id": "evt-round-closes",
  "sourceIds": [
    "src-hp-forbes-liang",
    "src-hp-linkedin-ds"
  ],
  "title": "the round closes"
}

richest ai founder · deepseek-timeline · 2026-07-14 (day) · reported (original editorial confidence)

Original location · source-78d8d116d4c3003c4614

Original structured fields

{
  "confidence": "reported",
  "date": "2026-07-14",
  "detail": "the bloomberg billionaires index puts liang at ~$36b — the world's richest ai-model founder, above amodei and brockman.",
  "era": "incumbent",
  "id": "evt-richest",
  "sourceIds": [
    "src-hp-bloomberg-liang-rich"
  ],
  "title": "richest ai founder"
}