Chinese AI startup DeepSeek plans to raise approximately 50 billion yuan ($7.4 billion) in its first external funding round. The deal values the company between $52 billion and $59 billion. DeepSeek develops open-source AI models that rival industry leaders like OpenAI.
Tencent and CATL lead the round with potential investments of 10 billion yuan and 5 billion yuan, respectively. Founder Liang Wenfeng committed 20 billion yuan of personal capital to the financing.
NetEase, JD.com, and China’s national artificial intelligence fund are in final talks to participate. The transaction expects to close within the next few weeks.