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DeepSeek is reportedly in talks to raise a funding round that could value the Chinese AI startup at about $45 billion, with the state-backed National Integrated Circuit Industry Investment Fund (the “Big Fund”) leading discussions. Multiple reports stress negotiations remain ongoing and the valuation isn’t final, while other strategic investors—internet giants and state funds—are said to be interested. The potential deal underscores Beijing’s use of public capital to back domestic AI and semiconductor champions, promising accelerated product, chip and infrastructure development for DeepSeek and shifting competitive dynamics in China’s large-model AI race.
A potential Big Fund-led investment could accelerate DeepSeek's AI and chip development and reshape competitive dynamics in China's large-model AI race, influencing partners and supply chains. Tech professionals should monitor state-backed capital flows that can create advantaged domestic champions and affect hiring, vendor selection, and R&D priorities.
Dossier last updated: 2026-05-22 03:48:41
DeepSeek创始人宣布以通用人工智能为目标，100亿美元融资轮正在推进
DeepSeek is in talks to raise funding that would value the Chinese AI startup at about $45 billion, with China’s state-backed National Integrated Circuit Industry Investment Fund (the “Big Fund”) leading discussions. The deal would inject large-scale capital into DeepSeek as it competes in large-model AI, signaling continued heavy state and strategic investment into domestic AI champions. Key players include DeepSeek and the Big Fund; the move matters because it could accelerate DeepSeek’s product development, chip and infrastructure partnerships, and market positioning against global rivals while aligning the company with national technology priorities. The funding reflects China’s preference for channeling public capital into critical AI and semiconductor bets.
估值近 450 亿美元，DeepSeek 首轮融资获“国家大基金”领投磋商
Reports say China’s state-backed National Integrated Circuit Industry Investment Fund is in talks to lead DeepSeek’s funding round, potentially valuing the AI firm at about $45 billion post-money. Multiple sources told 36Kr negotiations are ongoing and the valuation has not been finalized; other interested investors reportedly include internet giants and additional state-owned funds. The story matters because a high-profile, large-scale investment led by a national semiconductor fund would signal strong state backing and huge capital flows into China’s AI/startup ecosystem, potentially accelerating DeepSeek’s growth and impacting competitive dynamics among Chinese AI companies.