Grace Hsiao

Like you mentioned, V3 projects.

propel the whole industry forward.

Everyone kind of start taking China AI more seriously.

You know, it brought a lot of interest from investors globally back into the internet companies that Tracy mentioned.

You know, prior to that, there was a bit of a slump for three to five years.

However, you know,

CAI is now publicly listed in Hong Kong.

Minimax is publicly listed in Hong Kong.

Moonshot is in preparation to go public next year.

They are competing with each other to capture market share, to capture developer mind share.

But DeepSea plays an interesting role.

I want to bring it back to DeepSea v4.

So V4, you know, on the surface, you know, people said, okay, it wasn't as maybe impressive on evals and performance.

It didn't catch up with the most frontier labs in the US, whatnot, right?

But it was a very interesting move because what I heard from researchers on the ground in Beijing was that the lab actually...

delayed their release for about three to four months because they wanted to re-engineer a lot of the inference onto Huawei.

So I'm not saying this completely replaces Nvidia or CUDA, not at all, because if you ask any developers, they still want to use CUDA if they can.

However, it was the first effort to really

And it kind of like did one for the team.

Like they kind of like put the resources.