Chinese AI startup DeepSeek is raising $7.4 billion in its debut funding round, targeting a post-money valuation of $52-59 billion, according to reports on June 3. The company rose to global prominence with its V3 and R1 models without ever taking outside venture capital, making this round a dramatic strategic shift.
Founder Liang Wenfeng is the dominant contributor, personally investing roughly 20 billion yuan (about $2.96 billion), nearly 40% of the total. Tencent is weighing a 10 billion yuan commitment and battery giant CATL around 5 billion yuan, with China's national AI fund, NetEase, JD.com, IDG Capital and Monolith also in talks. Fewer than 10 investors are expected to participate.
The raise reflects Beijing's broader push to strengthen domestic AI capabilities amid U.S.-China tech tensions. The round could close within weeks, though terms may still change.