DeepSeek nears $74B valuation in new funding round before IPO
What's the story
Chinese artificial intelligence (AI) start-up DeepSeek is close to completing a new funding round. This will value the company at approximately CNY 500 billion ($74 billion), according to the South China Morning Post. The company is looking to raise around CNY 50 billion in this round, which is likely to close by the end of August.
Investor details
Funding round sees participation from existing and new investors
The funding round has seen participation from existing investors such as local venture funds Monolith and Shixiang Capital, as well as Chinese battery giant Contemporary Amperex Technology Limited (CATL).
New investors in the talks include CPE, Legend Capital, and Stony Creek Capital.
The latter is a semiconductor-focused private equity firm with historical ties to Zhu Yiming, Chairman of chip giant ChangXin Memory Technologies.
IPO strategy
DeepSeek preparing for potential IPO
Hangzhou-based DeepSeek is also gearing up for a possible initial public offering (IPO) on Shanghai's Nasdaq-like Star Market. The company could file for an IPO as early as this year, with a public market debut planned for 2027.