DeepSeek hires Yan Wentao as 1st CFO for possible IPO
Business
Chinese AI company DeepSeek is shaking things up by planning to hire Yan Wentao as its first CFO, as it prepares for a possible IPO.
Yan, who's coming from GL Ventures, will help guide DeepSeek through the tricky process of going public, a big step for a company that's mostly focused on research until now.
DeepSeek taps CITIC Securities, valued $74B
DeepSeek has tapped CITIC Securities to look at listing on Shanghai's STAR Market and is now valued at around $74 billion in an ongoing fundraising round.
The company's been pouring money into computing infrastructure, chip development, and talent to stay ahead.
After starting out with backing from founder Liang's hedge fund High-Flyer, DeepSeek began seeking external fundraising earlier this year.