DeepSeek Founder's Fund Gains on Chip IPO Surge

A hedge fund co-founded by Liang Wenfeng, the founder of AI company DeepSeek, has seen significant paper gains from a recent high-profile stock listing. The fund invested in chip designer Moore Threads Technology, whose shares soared over 400% on their first trading day in Shanghai. High-Flyer Quantitative Fund, which Liang co-founded, subscribed to 82,244 shares of Moore Threads before its initial public offering (IPO). The purchase price was 114.28 yuan per share. The fund made the investment through two related entities: Zhejiang High-Flyer Asset Management and Ningbo High-Flyer Quant Investment. Moore Threads is a Chinese company specializing in graphics processing units (GPUs), a critical type of semiconductor for artificial intelligence computing. The stock's dramatic debut on the Shanghai Stock Exchange's STAR Market, a board for technology firms, created substantial immediate value for its early investors. The event highlights continued investor enthusiasm for China's domestic semiconductor sector.