Guan Cha Zhe Wang·2025-11-04 14:57Core Insights - The AI investment competition "Alpha Arena" concluded with Alibaba's Qwen3-Max winning with a return of over 20% [1][4] - DeepSeek v3.1 secured the second position, marking a strong performance for Chinese models, while all four leading American models reported losses, with GPT-5 suffering a loss exceeding 60% [1][6] Competition Overview - The competition lasted 17 days and involved six top AI models, including Qwen3-Max, DeepSeek v3.1, GPT-5, Gemini 2.5 Pro, Claude Sonnet 4.5, and Grok 4, with a total investment of $10,000 per model [1][2] - All models received the same market data and prompts, ensuring fairness and transparency, with real-time trading records and account values publicly available [2] Performance Analysis - Initially, DeepSeek v3.1 led the competition, but a significant downturn occurred on October 21-22, causing Grok 4 and Claude Sonnet 4.5 to shift from profit to loss [2][4] - Qwen3-Max and DeepSeek v3.1 adapted their investment strategies during this downturn, allowing them to recover and outperform the other models [4] Final Rankings - The final standings showed Qwen3-Max with an account value of $12,232 and a return of +22.32%, while DeepSeek v3.1 had an account value of $10,489 and a return of +4.89% [8] - The American models, including Claude Sonnet 4.5, Grok 4, Gemini 2.5 Pro, and GPT-5, reported significant losses, with GPT-5 at -62.66% [8] Industry Implications - The success of Chinese models like Qwen and DeepSeek highlights their potential in real-world applications and the importance of understanding AI in practical scenarios [14] - The competition reflects a growing trend in the AI industry towards open-source models, which are seen as crucial for fostering innovation and competitiveness in the global AI landscape [14]