Chinese asset managers are engaging in an AI arms race following High-Flyer’s use of DeepSeek in trading markets, potentially disrupting the $10 trillion fund management industry. The competition is driving firms to expand AI research and adopt DeepSeek technology, leading to significant changes in the way investments are managed in China. This shift towards AI-driven strategies marks a pivotal moment for Chinese asset managers as they strive to remain competitive in the evolving market landscape.
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Kerry Washington invests in wedding marketplace Cheersy
Kerry Washington expands her angel investment portfolio by leading the pre-seed round for wedding marketplace Cheersy, founded by Amy Shack Egan, which connects couples with day-of service wedding coordinators and has raised $550,000 from investors like Christina Tosi and Jennifer Gilbert. Shack Egan met Washington through a mutual connection, and Washington, known for investing in startups like Spill and Equip, is one of many Hollywood figures entering the startup world. Cheersy, similar to Airbnb, allows...
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