DeepSeek Secures $7.4 Billion in First Funding Round at $50 Billion Valuation

According to Reuters, DeepSeek raised over 50 billion yuan ($7.4 billion) at a valuation exceeding $50 billion in its first funding round earlier this month. Investors contributed funds to a limited partnership managed by founder Liang Wenfeng rather than directly into DeepSeek, with a five-year lock-up period and no voting rights. China's National Artificial Intelligence Industry Investment Fund was the sole exception, investing directly in DeepSeek with voting rights and no lock-up restrictions.

Liang committed 20 billion yuan ($2.96 billion) of his own capital to the round. Tencent and battery maker CATL were reportedly considering investments of 10 billion yuan ($1.48 billion) and 5 billion yuan ($740 million) respectively.