DeepSeek, the Chinese AI model developer, has restarted its second round of financing, according to Caijing magazine, citing multiple traders. The round is planned to raise 50 billion yuan, with a pre-money valuation of approximately 500 billion yuan, and signing is expected to be completed in late August. Several investors said the round had already begun in mid-July but was suddenly paused at the end of July, when some investors on the negotiation waiting list were told to hold off on signing agreements. Media reported on July 26 that one reason for the pause was founder Liang Wenfeng's displeasure with widely circulated remarks, likely related to a suspected leaked meeting transcript for investors. DeepSeek and the investors in talks now want the restart to be kept low-key. Some previously active investors say they have not yet received word about the restart, and the channel remains suspended.
DeepSeek, the large language model developer, has restarted its second financing round, according to Caijing magazine, citing multiple traders. The round aims to raise 50 billion yuan at a pre-money valuation of around 500 billion yuan, with signing expected to be completed in late August.
Several investors said the second round had already started by mid-July, but was abruptly paused at the end of July. At the time, some investors on the negotiation waiting list were told to hold off on signing financing agreements. Media reported on July 26 that one reason for the pause was that founder Liang Wenfeng was unhappy with widely circulated remarks, which mainly revolved around a suspected leaked meeting transcript prepared for investors.
DeepSeek and the investors still at the table now want the financing to be kept low-key after the restart. For now, some investment institutions that had been actively reaching out said they have not yet received word from DeepSeek about the restart, and the channel remains suspended.
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