China's DeepSeek Nears $74bn Valuation Ahead of IPO

Chinese startup DeepSeek is preparing for another round of funding that would value the company at approximately 500bn yuan ($74bn). This comes just a few weeks after a previous investment round in which the company raised approximately $7.4bn.

At the same time, it has begun preliminary preparations to list on the STAR Market in Shanghai and, according to sources, plans to file for an IPO later this year.

The new funding, which could reach up to 50bn yuan ($7.4bn), is intended to cover the rising costs of artificial intelligence development, including data centers, computing infrastructure and the recruitment of specialists.

Following the success of its AI models, DeepSeek faces stiff competition from companies such as ByteDance, Alibaba and other Chinese startups.

Among its largest investors are Tencent, battery manufacturer CATL and the state-run artificial intelligence fund, underscoring the company's strategic importance to Beijing's AI ambitions.

(Reuters, mja)