DeepSeek is back at the fundraising table. The Hangzhou-based AI startup has resumed its second external funding round, targeting roughly $8 billion at a valuation approaching 500 billion yuan, or about $74 billion. Hong Kong-based Monolith Management is in active talks to join the round.
For context on how fast this company has moved: DeepSeek was founded in 2023, employs around 200 people, and is now being valued at more than most publicly traded banks.
What happened, and why the pause
DeepSeek closed its first external funding round in June 2026, pulling in over $7.4 billion at a post-money valuation above $50 billion. That round attracted some of China’s biggest corporate names, including Tencent and JD.com, alongside Monolith Management.
The second round hit a wall in July 2026 after comments made by founder Liang Wenfeng to investors were leaked. The fallout was enough to halt the process entirely, at least temporarily.
