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.

China’s DeepSeek seeks $10B funding at a $45B valuation to expand AI capabilities, scale infrastructure, and strengthen its position in the global AI market.