DeepSeek is seeking at least another 50 billion yuan ($7.4 billion) from new and existing investors at a reported 500 billion yuan ($74 billion) valuation, with the round expected to close by the end of August, after completing a similarly sized first round in June. Separate accounts described the first round as valuing DeepSeek at approximately $52 billion and said Liang Wenfeng contributed about 20 billion yuan ($3 billion), while earlier reports cited a 5 billion yuan raise at a 50 billion yuan valuation. DeepSeek generated about 475 million yuan ($70.7 million) in revenue during the first seven months of 2026, roughly ten times its full-year 2025 revenue, while its net loss narrowed to about 715 million yuan from 935 million yuan. The company is seeking capital for research, development, computing infrastructure and talent retention and has hired banks to prepare for a potential Shanghai STAR Market listing in 2027. Its backer, High-Flyer Quant, is redirecting capital and AI-driven trading capabilities toward Chinese technology IPOs, including a roughly $26 million pre-IPO allocation in memory-chip maker CXMT and smaller investments in Unitree Robotics. DeepSeek itself received 2.31% of Unitree’s offering with a 36-month lock-up. High-Flyer’s strategy reflects both potential investment returns and strategic relationships in sectors including chips, AI, advanced manufacturing and robotics, although the fund has faced unstable revenue and losses during a July global AI-chip selloff.