AI investor mania: China’s DeepSeek chases US$70 billion valuation in fresh round
• Chinese AI start-up DeepSeek is in talks with investors for a new financing round targeting a pre-investment valuation of approximately US$70 billion. • This follows a landmark Series A round closed in June, which raised about US$7 billion and valued the Hangzhou-based firm at nearly US$60 billion. • The rapid surge in valuation reflects intense investor demand to back a national AI champion amidst a global race for frontier artificial intelligence.
scmp.com