Another Chinese quantitative trading firm has entered the race to develop large language models (LLMs), unveiling systems it claims can match – and in some cases surpass – the performance of US rivals such as OpenAI’s GPT-5.1, following the global rise of DeepSeek. Beijing-based Ubiquant said it released a series of open-source code-focused LLMs last week that outperformed leading closed-source models on multiple benchmarks despite using far fewer parameters. The IQuest-Coder-V1 family is...