DeepSeek set to net over $12b in new fundraising, source says
DeepSeek set to net over $12b in new fundraising, source says <br> Chinese AI startup DeepSeek is set to raise more than 80 billion yuan ($11.93 billion) in its latest funding round, said one person with knowledge of the matter, as the firm ‌builds up a war chest of capital ahead of a domestic IPO. DeepSeek kicked off the fundraising in July targeting a valuation of 500 billion yuan ($74 billion), a month after raising about $7.4 billion in its maiden external funding round, Reuters reported. The second fundraising has drawn massive interest from existing and new investors and the capital committed exceeds DeepSeek's original target of 50 billion yuan, said the source. DeepSeek is expected to wrap up the fundraising in October, said the person and a second source with knowledge of the matter. Both sources declined to be identified as the information was confidential. DeepSeek did not immediately respond to an emailed request for comment. Bloomber...