DeepSeek, a Chinese AI startup, is poised to secure $7.4 billion in its first funding round, potentially valuing the company at up to $59 billion, sources reveal.

The fundraising could value the company after the investment at between 350 billion yuan and 400 billion yuan, or between $52 billion and $59 billion.

Tencent, CATL are set to become the largest external investors, sources say. Read more at straitstimes.com. Read more at straitstimes.com.