capital · May 14, 2026

DeepSeek Seeks $7.35 Billion in Record Funding Round

DeepSeek entered advanced talks on May 11, 2026, to raise up to 50 billion yuan ($7.35 billion) in its first external funding round. China's state-backed Big Fund leads the investment, with founder Wenfeng Liang contributing up to 20 billion RMB ($2.8 billion) personally. The round involves Tencent and Alibaba in discussions for a total exceeding $20 billion. Previously self-funded at an estimated $10 billion valuation in early April 2026, DeepSeek would reach $50 billion post-money. Liang's direct stake rises from 1 percent to 34 percent, granting 84.29 percent control including indirect holdings.