DeepSeek has put its latest fundraising round on hold, interrupting a private-market surge that valued the firm at a minimum of 480 billion yuan ($71 billion).
Citing people familiar with the matter, Bloomberg reported that the Chinese artificial intelligence startup verbally told some prospective investors that investment agreements would not be signed on the anticipated timetable.
The pause followed viral online reports about purported remarks by founder Liang Wenfeng during investor meetings, in which he was said to have acknowledged China’s continuing gap with the US in advanced AI and its reliance on Nvidia (NASDAQ:NVDA).
Valuation Surge Meets Geopolitical Realities The freeze comes only weeks after a record $7 billion initial financing that put the post-money valuation at around $50 billion.
The first deal attracted influential backers, including Tencent (OTCPK: TCEHY), battery maker CATL, and the National Artificial Intelligence Industry Investment Fund – a state-backed vehicle supporting Beijing’s strategic ambitions in the sector.
