DeepSeek's $7.4B round locks control with Liang and the state
The financing structure accepts outside capital while keeping voting power away from commercial investors.
Liang Wenfeng News and Analysis
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DeepSeek raises $7.4B without giving investors control
DeepSeek closed its first outside round at a valuation above $50 billion, but commercial backers get no voting power.
DeepSeek Nears a 50 Billion Yuan Round, With Liang Wenfeng Putting In 20 Billion
Reuters says DeepSeek’s first major financing could value the company at 350 billion to 400 billion yuan while its founder remains the largest investor.