Chinese artificial intelligence startup DeepSeek has reportedly raised more than 50 billion yuan, or about $7.4 billion, in its first funding round, according to a report by The Information cited by Reuters. The deal would value the company at more than $50 billion.
The reported fundraising stands out not only for its size but also for its structure. Instead of investing directly in DeepSeek, backers were said to place money into a limited partnership controlled by chief executive Liang Wenfeng. The arrangement is designed to preserve founder control over the company, the report said.
The Information also reported that the investors face a five-year lock-up period and will not receive voting rights. That means the financing would give DeepSeek substantial capital without immediately diluting Liang's decision-making power.
There is one major exception. China’s National Artificial Intelligence Industry Investment Fund reportedly invested directly in DeepSeek. Unlike the other backers, it retained voting rights and was not subject to the lock-up restrictions.
Reuters said it could not immediately verify the report, and DeepSeek did not immediately respond to a request for comment.
The news follows earlier Reuters reporting this month that Liang had committed 20 billion yuan of his own money to the fundraising round. Reuters also reported that Tencent was considering an investment of 10 billion yuan and battery maker CATL was looking at 5 billion yuan. If completed on those terms, those two companies would be among the round’s largest outside investors.
DeepSeek has become one of China’s best-known AI names after its V3 and R1 models won praise from researchers and technologists in Silicon Valley and elsewhere. The company’s rise drew fresh attention to China’s ability to compete in advanced AI development, especially as U.S.-China competition in the sector intensifies.
The reported financing would mark a major milestone for the startup as it seeks to expand its position in a fast-moving industry that requires heavy spending on compute, talent and model development. Large fundraises are common in artificial intelligence, but the reported structure suggests DeepSeek and its founder are prioritizing governance control alongside access to capital.
The yuan figures cited in the report convert to more than $7.4 billion at an exchange rate of 6.7604 yuan per dollar.
If confirmed, the round would rank among the largest known first financings for a Chinese AI company, and it would underscore the investor appetite surrounding a firm that gained global visibility in a relatively short time. For now, however, the details remain based on the report and have not been independently confirmed by Reuters.