DeepSeek is raising up to $7B at a potential $50B valuation, with state-backed Chinese funds leading the round as the AI lab focuses on open-source AGI research.

DeepSeek founder Liang Wenfeng has told investors the Hangzhou lab is targeting AGI, in its first-ever outside raise at a reported $10bn valuation.

Deepseek is about to raise around $10 billion, which would value the Chinese AI startup at roughly $45 billion. Founder Liang Wenfeng is telling investors he's putting AGI…