
DeepSeek raises record $7.4 billion in first external funding round
Investors receive no voting rights and are subject to a five-year lockup period during which their holdings cannot be transferred.

Investors receive no voting rights and are subject to a five-year lockup period during which their holdings cannot be transferred.

Founder and chief executive Liang Wenfeng has pledged 20 billion yuan of personal capital, accounting for roughly 40% of the round, the report said.

Media reports on May 22 said the latest round had expanded to 70 billion yuan ($10.33 billion), with a pre-money valuation of about $45 billion.

Other potential backers include e-commerce heavyweight JD.com and online gaming titan NetEase, while Tencent and Alibaba Group have also been previously reported to be in talks.