DeepSeek latest funding round could reach $15 billion
Chinese AI startup DeepSeek is reportedly looking to double its latest funding round to nearly $15 billion. The company is prioritizing state-backed and corporate investors while aiming for a $75 billion valuation ahead of a potential 2027 IPO.
Why it matters
DeepSeek's massive fundraising efforts underscore the intense capital competition in the global AI race and the strategic importance of state-backed funding in China's tech sector.
China's DeepSeek is considering expanding its latest funding round to as much as 100 billion yuan ($14.9 billion), double its earlier target, with state-backed funds and corporate investors jostling for stakes, people familiar with the matter told CNBC.
The AI startup has fielded strong interest from state-backed funds, investment arms of listed Chinese companies and venture capital firms, according to the two people, who asked not to be named because they were not authorized to discuss the private talks.
But DeepSeek is vetting prospective investors closely, turning away private investment funds raised from individual investors and limiting the pool largely to government and corporate funds, the people said.
The company, which began taking outside capital for the first time this year, initially set a 50 billion yuan target for the current round.
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