Overview
- Two people told The Information that the Chinese AI startup is trying to close a 50 billion yuan financing round as its first outside money.
- Financial Times reported that China’s state-backed National Integrated Circuit Industry Investment Fund, a chip investment vehicle, has discussed leading the deal at a valuation near $45 billion.
- If it closes, the round would be the largest single fundraising to date for a China-based AI firm, according to the reports.
- People involved in the discussions said DeepSeek aims to speed up commercialization and release models more often, with an update to its V4 model called V4.1 reportedly planned for June.
- A market source told Daily Economic News that Alibaba likely never held talks with DeepSeek, disputing earlier claims that negotiations between them collapsed.