DeepSeek opens its first outside funding round at a $10B valuation
DeepSeek is in talks with investors to raise at least $300 million at a valuation of about $10 billion, The Information reported, citing two people familiar with the matter — its first external capital after years of self-funding by founder Liang Wenfeng's hedge fund.
Reuters could not independently verify the report, and DeepSeek did not immediately respond to a request for comment. The company has reportedly turned down earlier offers from major Chinese VC firms and tech giants. Reuters noted the round underscores the intense capital requirements of frontier reasoning and agentic models.
WHY IT MATTERS
The archetypal we-don't-need-your-money lab finally taking outside cash is a clean signal that reasoning models and agent systems have outgrown what even a well-funded internal backer can sustain.