deepseek / 国家集成电路产业投资基金 / 国家大基金

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.

Chinese AI startup DeepSeek is reportedly in talks to raise a financing round that could value the company at about $45 billion post-money, with state-backed investors including the National Integrated Circuit Industry Investment Fund reportedly negotiating to lead the round. The report, cited by 36Kr and originally from The Paper, has not been independently confirmed. If true, the deal would mark a major endorsement from official institutional backers and signal continued aggressive state and strategic capital deployment into high-value AI startups in China. The size and participants make this a noteworthy indicator for fundraising, valuation benchmarks, and government-aligned investment trends in the AI sector.