Baidu Ventures CEO responds to missing out on DeepSeek (19459000)
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Baidu Ventures is located directly above DeepSeek Beijing’s office. This has sparked debates about why they missed out on the opportunity to invest.
This issue is addressed. Gao Xue, CEO of Baidu Ventures, stated on the 9th of February that when DeepSeek moved into the Rongke Information Center for the first time in May 2024 they visited them immediately and maintained a friendly relationship. Due to the fact that “Magic Square Quantitative Fund”a large-scale business, was not independently structured to have a financing plan like other VCs they were unable become investors in DeepSeek.
Liang Wenfeng founded the Magic Square Quantitative Fund, which is behind DeepSeek, in 2008, while studying Information and Communication Engineering at Zhejiang University. It is a hedge-fund with expertise in mathematics and computation. Magic Square Quantitative Fund relies on its financial resources and assets to develop its large-scale businesses.
Gao Xue clarified further that Baidu Ventures BV Baidu Ventures is distinct from Baidu‘s investment division. It was founded as an independent venture-capital firm by the Baidu Group in 2017.
Despite not investing in DeepSeek Baidu Ventures is committed to the artificial-intelligence sector. Gao Xue emphasized that Baidu Ventures made successive investments in more than a hundred Chinese startups in AI. These include DeepPower Technology, which specializes in deep multimodal models; Shidi Zhijia, Jiushi Intelligent, which specializes in autonomous driving; Zhiyuan Technology, Xinghaitu, and Molecular Heart, who specialize in embodied Intelligence, Molecular Heart, and Xinghaitu, in AI protein design and Huayi Quantum, Baidu Ventures continues to invest heavily in Chinese AI startups.
Recent rumors suggest that Alibaba had planned to invest $1 billion into DeepSeek but Alibaba denies these claims.
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