DeepSeek from Hangzhou readies STAR Market IPO with CITIC Securities
DeepSeek, a Chinese AI startup from Hangzhou, is gearing up for an IPO on Shanghai's STAR Market.
It has brought in CITIC Securities to guide the process, a sign things are getting serious.
While the exact numbers are still under wraps, this move puts DeepSeek in the spotlight as China's AI scene heats up.
DeepSeek raised $7.4B valued over $50B
In June, DeepSeek raised about $7.4 billion, pushing its value over $50 billion, with big names like founder Liang Wenfeng, Tencent, and CATL all investing.
In July, reports said its valuation was in the midst of a funding round that would value it at $75 billion.
DeepSeek is joining a wave of Chinese AI firms going public, though American rivals like OpenAI could be valued at up to $1 trillion, showing just how fierce the global AI race has become.