DeepSeek, the Chinese laboratory ofartificial intelligence that surprised the world with its chatbot, has completed its first external funding round and reached a valuation of over US$ 50 billion.
The operation not only makes the company founded by Liang Wenfeng the most valuable AI startup in China. It also rekindles doubts about the relationship between Chinese tech companies and the Beijing government, a topic that is generating increasing global attention.
DeepSeek completed its first round of external financing
DeepSeek received external investment for the first time
According to The Information, DeepSeek raised over 50 billion yuan in its first funding round. The amount is equivalent to about US$ 7.4 billion at the current exchange rate.
Until now, the company had been funded exclusively by its founder, Liang Wenfeng, using resources from High-Flyer, the quantitative investment fund he also created.
For years, the entrepreneur maintained that the main challenge for DeepSeek was not raising money, but accessing advanced chips due to restrictions imposed by the United States.
DeepSeek received external investment for the first time
An unusual investment structure
One of the most striking aspects of this round was the way the operation was structured.
According to The Information, investors did not purchase direct shares of DeepSeek. Instead, the money was channeled through a limited partnership controlled by Liang Wenfeng.
An unusual investment structure
Additionally, participants accepted unusual conditions for a tech startup of this size:
Five-year lock-up period.
No possibility of quick sale of shares.
Zero voting rights in the management of the company.
This means that new investors will have little influence over the strategic decisions of the Chinese laboratory.
Tencent, CATL, and a state fund appear among the investors
According to Reuters, Liang Wenfeng reportedly committed about 20 billion yuan of his own wealth within the operation, remaining the main shareholder and investor of the company.
DeepSeek reached a valuation of over US$ 50 billion
The same report indicates that Tencent is considering contributing approximately 10 billion yuan, while battery manufacturer CATL is looking to invest another 5 billion yuan.
However, the most attention-grabbing detail is the participation of the National Fund for Investment in the Artificial Intelligence Industry of China, a state vehicle used by Beijing to boost strategic tech sectors.
Liang Wenfeng would have committed about 20 billion yuan of his own wealth
According to reports, it was the only investor that received real voting rights within the company.
Doubts grow about the relationship between DeepSeek and the Chinese government
Since its international emergence in 2025, DeepSeek has faced questions related to data privacy and its possible closeness to Chinese authorities.
The company already faces restrictions or partial bans in various countries and private organizations due to concerns about the handling of user information under Chinese legislation.
Doubts grow about the relationship between DeepSeek and the Chinese government
The direct participation of a state fund in this round could increase scrutiny over the company and deepen the debate about the independence of major artificial intelligence firms from the Asian giant.
How DeepSeek compares to OpenAI and Anthropic
Although DeepSeek's valuation exceeds US$ 50 billion, it is still far from the American giants in the sector.
Anthropic: valuation close to US$ 965 billion.
OpenAI: approximate valuation of US$ 852 billion.
DeepSeek: over US$ 50 billion.
How does DeepSeek compare to OpenAI and Anthropic
Nonetheless, the operation ranks among the largest funding rounds recorded in the recent history of Chinese startups and confirms China's growing prominence in the global race for artificial intelligence.
