China's DeepSeek to raise fresh capital at $74 billion valuation ahead of onshore IPO
Chinese AI firm DeepSeek is raising fresh capital at a $74 billion valuation ahead of a planned onshore initial public offering, sources say. The round would cement DeepSeek's position among the most valuable AI companies as competition with US rivals intensifies.
Chinese AI company DeepSeek is closing a new funding round at a $74 billion valuation ahead of a planned initial public offering on a domestic Chinese exchange, according to people familiar with the matter. The figure marks a sharp jump from the company's previous valuation.
DeepSeek rose to global attention with low-cost large language models, positioning itself as a cheaper alternative to US rivals on raw computing costs. The fresh capital is expected to fund further model development and infrastructure buildout as the onshore listing approaches.
The round underscores how aggressively Chinese AI firms are scaling to compete globally, even as Washington weighs further restrictions on advanced chip exports to China.
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