According to sources familiar with the matter cited by Reuters, Chinese artificial intelligence startup DeepSeek is expected to raise approximately 50 billion yuan (about 7.4 billion US dollars) in its first round of funding, with a post investment valuation estimated to be between 350 billion and 400 billion yuan (about 52 billion and 59 billion US dollars). Founder Liang Wenfeng promised to personally contribute 20 billion yuan, accounting for 40%. Tencent and CATL plan to invest 10 billion and 5 billion RMB respectively, becoming the largest external investors. The National Artificial Intelligence Industry Investment Fund has retired as an ordinary participant, while NetEase and JD.com are still in negotiations, with less than 10 participants expected. This round of financing is expected to be completed within two weeks, and DeepSeek has not yet announced its IPO plan.
