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.
This comes as competition among the country’s large language model developers intensifies, driving demand for capital to secure compute, attract talent and accelerate commercialization.
Beyond the Big Chip Fund, talks reportedly include major internet players such as Alibaba and Tencent, alongside other state-backed investors.
On a look-through basis, Liang Wenfeng controls about 84.29% of DeepSeek, maintaining effective control of the company.