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DeepSeek’s Meteoric Rise: Valuation Soars, Founder Liang Wenfeng Joins The Billionaire Ranks

by THEFUTURE.TEAM

January 31, 2025

DeepSeek, a Chinese AI firm founded by Liang Wenfeng, has seen an astonishing rise in value, positioning itself as a formidable competitor to industry giants like OpenAI and Anthropic. The firm’s open-source AI model, which launched in January 2025, quickly gained traction, becoming the top-rated app in the United States within weeks. This unprecedented success has catapulted Liang into the ranks of the world’s wealthiest individuals, with a projected valuation for DeepSeek reaching at least $1 billion.

The company, which launched in 2023, operates without external investors, with Liang owning 84% of the firm. DeepSeek’s success is attributed to its efficient AI models, which have been developed at a fraction of the cost of competitors. Despite not yet generating significant revenue, the firm’s market share is expanding rapidly, and its ability to challenge established players in the AI field positions it for future growth.

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Experts believe DeepSeek’s potential is vast, and some estimate its worth to be as high as $10 billion. The firm’s success has already wiped billions off the fortunes of competitors, particularly in the U.S., and it continues to gain momentum. While the future remains uncertain, the combination of DeepSeek’s innovative technology, its leader’s vision, and growing global attention makes it a company to watch.

Liang Wenfeng’s journey from hedge fund founder to AI entrepreneur is a testament to his strategic foresight and ambition. With a background in AI and quantitative trading, he has proven his ability to navigate complex industries and build high-value firms. As DeepSeek looks to capitalize on its success, Liang’s story is one of remarkable transformation, turning an obscure AI startup into a global contender.

With DeepSeek’s impressive trajectory, the tech world will be closely watching its next moves as it continues to disrupt the AI industry and secure its place among the most valuable companies in the sector.

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Industry Uproar Over Reduction in Electric Vehicle Subsidies

by News Editor

April 26, 2025

The recent move by the government to curtail subsidies for electric vehicles has stirred significant discontent among car importers in Cyprus. The Department of Road Transport (DRT) has slashed available grants under the Electric Vehicle Promotion Scheme as of April 23, leading to a rapid depletion of the subsidy pool and leaving many potential applicants disappointed.

Importers’ Concerns

According to the Cyprus Motor Vehicle Importers Association (CMVIA), the lack of transparency and failure to engage stakeholders prior to the decision have eroded trust in the government’s commitments. Importers now find themselves facing a precarious situation, with substantial stocks of electric vehicles and mounting promotional expenditures.

Public Interest and EU Compliance

Although the scheme aimed to support the transition to zero-emission transport until 2025, the DRT states that the curtailing of funds was necessary to comply with European funding terms, which warned against delays in vehicle deliveries. This decision has fueled market uncertainty despite the application portal experiencing dynamic changes.

Industry’s Ongoing Demand

The CMVIA refutes any claims suggesting waning interest in electric vehicles, underscoring the rapid exhaustion of available grants as proof of substantial demand. They highlight the importance of meeting Cyprus’s green transition targets, including putting 80,000 electric vehicles on roads by 2030.

While the total budget for subsidies saw an increase to €36.5 million in 2023, thanks to additional funding, ongoing difficulties in timely vehicle distribution have led to premature closures of applications. In response, CMVIA has called for urgent dialogue with the Minister of Transport to reassess the decision, fearing that it could endanger the future of e-mobility in Cyprus.