Chinese DeepSeek seeks ¥50bn in 1st-ever round, could reach $59B
Business
DeepSeek, a rising Chinese AI company, is making waves by targeting 50 billion yuan ($7.4 billion) in its first-ever funding round, potentially valuing it at up to $59 billion.
The buzz started last year when DeepSeek's V3 and R1 models put China's AI skills on the global map and challenged US expectations.
Liang Wenfeng is putting in ¥20bn
Founder Liang Wenfeng is putting in a hefty 20 billion yuan of his own money, with tech giant Tencent and battery leader CATL reportedly in talks to back DeepSeek.
Other big names like NetEase, JD.com, and China's national AI fund are reportedly in final talks too.
This massive show of support highlights China's push to build its own powerful AI scene, combining fresh ideas with serious infrastructure muscle.