DeepSeek Nears $50B Valuation in Record ~$7.35B First External Funding Round
DeepSeek
DeepSeek is in advanced negotiations to close its first-ever external financing round, targeting up to 50 billion yuan (~$7.35B) at a post-investment valuation of approximately $50B. China's state-backed 'Big Fund III' (National AI Industry Investment Fund) is in talks to lead, with Tencent participating and founder Liang Wenfeng personally committing ~$2.94B. The round would be the largest single funding event for a Chinese AI company. As of May 12, negotiations were ongoing and the close was described as imminent.
Why it matters
DeepSeek has historically rejected outside capital; this round signals a strategic shift toward state-aligned financing and computing infrastructure investment, reflecting how rapidly Chinese AI lab valuations have surged following the V3/V4 open-weight releases.
Importance: 3/5
Record Chinese AI funding round — 4 independent primary-media confirmations (SCMP, 36kr, TechBriefly, TechCrunch)