Chinese Artificial Intelligence lab DeepSeek has closed its first funding round that raised more than 50 billion yuan ($7.40 billion) under an unusual deal structure, The Information reported on Tuesday, citing people with direct knowledge of the matter.

Chinese AI lab DeepSeek has closed its first funding round that raised more than 50 billion yuan ($7.4billion) under an unusual deal structure, according to two people with direct…

DeepSeek has closed its first outside funding, over $7bn, with founder Liang Wenfeng putting in a controlling share and Tencent and CATL as top backers.