[YetAnotherNick]

High-Flyer AUM is $7B, which is not a large hedge fund. It's deepseek division is probably higher value than the AUM(not even the hedge fund's value) if it goes to market. They probably have billions of dollars of GPUs.

[adventured]

They probably have tens of millions of dollars of GPUS. DeepSeek isn't an original model, it's a synthetic built by using GPT and Llama etc. That's how they did it so relatively inexpensively. Their accomplishment isn't riding on the back of billions of dollars of their investment into datacenters and GPUs.

[YetAnotherNick]

Even in 2020, before GPT came they had $100 millions worth of GPU[1]. Now I am willing to bed it is above a billion dollar. We will never know as they likely have illegal GPUs due to export restrictions.

[1]: https://en.wikipedia.org/wiki/High-Flyer