DeepSeek is on a funding rocket—aiming for another $10 billion+ after its jaw-dropping first round, pushing its valuation to $640 billion. With an IPO potentially looming this year, the Chinese AI startup is at the heart of Beijing’s global AI ambitions. Their breakthrough model, built without massive compute power despite U.S. restrictions, has stunned the tech world. Backed by Tencent, CATL, and a state AI fund, DeepSeek is racing to scale its data centers as AI labs worldwide scramble for infrastructure. Founded just last year, the team’s focus on deep research and open-source models—aiming for AGI, not quick cash—has made its founder a billionaire while setting new records for China’s startup funding.
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