BEIJING: Chinese artificial intelligence (AI) startup DeepSeek has raised more than USD 7.4 billion in its first external funding round, valuing the company at over USD 50 billion and marking one of the largest AI deals in recent years.

The funding underscores rising investor confidence in China’s fast-growing AI sector and positions DeepSeek as a key competitor to firms like OpenAI and Anthropic.

Founded in 2023, the company has gained attention for developing high-performing AI models at relatively low cost. Its funding structure reportedly allows founder Liang Wenfeng to retain strong control, with many investors participating through partnership-style arrangements.

Major backers include China’s state-linked “Big Fund,” along with firms such as Tencent and CATL. The capital will support model development, infrastructure expansion and talent hiring, reinforcing China’s ambitions in the global AI race.