DeepSeek Eyes $300M Funding at $10B Valuation Amid AI Race

Chinese AI startup DeepSeek is reportedly seeking its first outside funding at a valuation of at least $10 billion. The company aims to raise at least $300 million to accelerate competition in developing advanced AI models.

Previously funded solely by its parent, Chinese hedge fund High Flyer Capital Management, DeepSeek is now reportedly in discussions with external investors. This follows rejections of offers from major Chinese venture capital firms and tech companies.

While DeepSeek's $10 billion valuation is significant, it remains below industry leaders like OpenAI, which has discussed funding rounds potentially reaching $800 billion, and Anthropic, valued around $380 billion.

DeepSeek gained attention for its R1 model, popular in Silicon Valley and Wall Street. The reported fundraising push indicates a strategy to secure a larger capital base for the increasingly expensive AI race.