Chinese AI startup DeepSeek has raised more than 50 billion yuan - about $7.4 billion - in its first external funding round.

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.

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,…