
DeepSeek’s first external round added a state AI fund and Tencent-linked investors, while the company explores fresh fundraising at about a $71 billion pre-money valuation and prepares for a possible IPO.
DeepSeek has completed its first external funding round through a linked research entity, adding the National AI Industry Investment Fund and a Hangzhou vehicle tied indirectly to Tencent, CATL, NetEase, JD.com, IDG, Monolith Lisi Capital, Shixiang Technology and Loyal Valley Capital as investors. The financing, described across reports as roughly $7 billion to $7.4 billion at about a $50 billion to $52 billion post-money valuation, lifted founder Liang Wenfeng’s net worth to about $36 billion from about $16.7 billion, according to the Bloomberg Billionaires Index, and left him with an estimated 78% stake. DeepSeek is also in early talks on another round at about a $71 billion pre-money valuation and is preparing for a possible IPO, as it ramps spending on data centers, AI chips and in-house chip development.