Nvidia, the world’s leading American chip manufacturer, has lost $600 billion in a single blow. Its impact was also felt on Indian AI companies.
Chinese AI startup DeepSeek has suddenly come into the limelight. DeepSeek has shaken the global AI industry in just 24 hours. This has caused a loss of $600 billion to the world’s leading American chip manufacturer Nvidia in a single blow. Its impact has also been seen on Indian AI companies. The founder of DeepSeek is Liang Wenfeng. His total wealth is in billions of rupees.
Who is Liang Wenfeng?
First, it is important to know what DeepSeek is. It is a Chinese AI startup. This startup is known for its unique innovation. Liang Wenfeng is the founder and CEO of DeepSeek. This startup recently launched its AI chatbot (DeepSeek-R1). It became popular in the market within a short time after its release. It became the highest rated free app on Apple’s App Store in the US, surpassing OpenAI’s ChatGPT.
Low-cost model
Liang has created this chatbot model at a very low cost. It cost less than $6 million (Rs. 52 crores). While ChatGPT cost more than $60 million to create. At the same time, Google’s AI chatbot has also cost a lot to create. The low cost of DeepSeek’s model has caused a lot of discussion around the world.
The company is two years old.
Liang’s company DeepSeek is only two years old. He started it in 2023. However, he has previously started several AI-related companies. In 2013, he founded Hangzhou Yakbi Investment Management and in 2015, Zhejiang Jiuzhang Asset Management Company. He also launched Hi-Flyer AI in 2019, a venture that manages assets worth more than 10 billion yuan.
What was the impact on the market?
DeepSeek’s popularity affected other AI companies. Shares of American chip giant Nvidia fell by 17 percent. AI companies in India were also not spared from the impact on Tuesday. Shares of Anant Raj Limited fell by 20 percent. Shares of Netweb Technologies India fell by 10 percent. On the other hand, shares of Zen Technologies fell by more than 14 percent.
What is Liang’s net worth?
There is not much information in the public domain about the net worth of Liang, the founder of DeepSeek. According to the Chemical City Paper website, the 40-year-old Liang has a net worth of $3.2 billion (about Rs. 28,000 crore). He has a wife and two children in his family. He credits his success to his wife and two children.