Chinese AI start-up DeepSeek is finalising its first external funding round of more than 50 billion yuan ($7.4bn, £5.5bn) at a valuation of just under $60bn, a more than six-fold jump from its $10bn valuation two months ago, the South China Morning Post reported.
Investors include Tencent Holdings, expected to invest 10bn yuan, with NetEase and JD.com expected to contribute about 3bn yuan each, the report said.
CATL, the world’s largest EV battery manufacturer, was expected to contribute about 5bn yuan, the report said, citing unnamed people familiar with the matter.
Surging valuation
Venture capital firms including IDG Capital, Monolith, Loyal Valley Capital and Shixiang Tech are also reportedly expected to contribute, with DeepSeek founder and chief executive Liang Wenfeng also expected to contribute about 20bn yuan of his own capital.
