DeepSeek seeks funds at $74B valuation before STAR Market IPO
Business
Chinese AI company DeepSeek is looking to raise fresh funds at a $74 billion valuation before its planned IPO on Shanghai's STAR Market.
After raising $7.4 billion in June, the company now wants up to 50 billion yuan more and hopes to complete an IPO filing by the end of 2026.
DeepSeek hires fast, builds AI chip
DeepSeek is hiring fast and building its own AI chip to stay ahead in China's competitive tech scene.
Backed by big names like Tencent, CATL, and China's national AI fund, it's clearly seen as important for Beijing's tech ambitions.
Still, DeepSeek has tough rivals, including Alibaba, ByteDance, and new startups like Z.ai, so the race for AI dominance in China is definitely heating up.