It turns out that DeepSeek is really just a side business for Phantom Square 😂

I heard that Phantom Square Quant has made 20 billion RMB this year. No wonder they haven't been seriously developing AI-related products, it's all their own money, so there’s no pressure to be profitable.

On the other hand, other companies like kimi, minimax ... really have a tough time.

However, compared to 1 billion or 10 billion in foreign financing, investing 20 billion entirely in AI is not much.