Liang Wenfeng, founder of the Chinese startup DeepSeek, has been recognized by the Chinese government as an influential figure in the AI sector.

His company, founded in 2023, has attracted attention for developing a low-cost AI model.

DeepSeek’s AI model has impacted financial markets, contributing to a decline in the Nasdaq index earlier this week.

Liang, a graduate qualifications from Zhejiang University, leads a team of 139 members, much smaller than leading global competitors like OpenAI.

He attended a meeting with business leaders hosted by Premier Li Qiang on Jan. 27. He said that his goal was not to disrupt the market but to make AI more accessible through affordable solutions.