DeepSeek is seeking about $7.4bn in new funding that would value the company at roughly $74bn, sources said. Proceeds are intended for R&D and expansion of compute infrastructure. Existing shareholders including Lisi Capital, Shixiang Capital and CATL are expected to participate; Tencent had valued DeepSeek at over $50bn in a June round. The company will allow more investors to invest directly in this round rather than routing most allocations through a limited partnership managed by Liang Wenfe

DeepSeek is seeking about $7.4bn in new funding that would value the company at roughly $74bn, sources said. Proceeds are intended for R&D and expansion of compute infrastructure. Existing shareholders including Lisi Capital, Shixiang Capital and CATL are expected to participate; Tencent had valued DeepSeek at over $50bn in a June round. The company will allow more investors to invest directly in this round rather than routing most allocations through a limited partnership managed by Liang Wenfeng. DeepSeek’s annual recurring revenue is about $500m.