A regulatory filing from Anhui Korrun, a Chinese luggage manufacturer, has pulled back the curtain on DeepSeek’s private valuation. The filing disclosed that a fund involving Anhui Korrun deployed 2.9 billion yuan, roughly $420 million, for an indirect stake of just 0.8265% in the Hangzhou-based AI startup.
Do the math on that ownership slice and you land at an implied valuation of approximately 350.88 billion yuan, or $51.82 billion.
The funding picture
The company closed its first external funding round in late May or early June 2026, pulling in over 50 billion yuan, about $7.4 billion, at a post-money valuation north of $50 billion.
DeepSeek is reportedly in discussions to raise additional funds at valuations between $71 billion and $74 billion. That’s a potential 40%-plus jump from the valuation implied by the Anhui Korrun filing.
