People familiar with the matter said AI model company DeepSeek has restarted its
second funding round, targeting 50 bln yuan with a pre-money valuation of about
500 bln yuan and aiming to sign agreements by late August. Investors said the
round opened by mid-July but was abruptly paused at end-July, with some
prospective backers told signing was deferred. Media reports on July 26 cited
the pause and said founder Liang Wenfeng was unhappy about widely circulated
online comments, including an alleged leaked investor meeting transcript.
DeepSeek and negotiating investors want the restart handled discreetly; several
previously engaged institutions say they have not been recontacted and the
process remains on hold.
