Chinese artificial intelligence startup DeepSeek is moving to raise fresh capital at a valuation of roughly $74 billion, according to sources, as it lays the groundwork for a potential onshore initial public offering. The fundraising push comes just weeks after the company closed its first external funding round and signals an acceleration in its capital-intensive expansion plans.
The Hangzhou-based firm, founded by Liang Wenfeng, captured global attention in 2025 with low-cost AI models that challenged established players. Until recently, DeepSeek was largely self-funded through Wenfeng’s quantitative hedge fund High-Flyer. That changed in June 2026 when the company brought in outside investors for the first time.
In that June round, DeepSeek raised approximately $7.4 billion at a post-money valuation above $50 billion, according to a term sheet reviewed by Ashareinsights.com. The cap table included a personal investment of ¥20 billion from Liang Wenfeng, ¥10 billion from Tencent, ¥5 billion from CATL, and participation from JD.com, NetEase, and China’s national AI fund.
Now, barely a month later, the startup is reportedly seeking another capital injection. Winbuzzer.com reported on July 16 that DeepSeek is targeting a $7.4 billion raise at a contemplated $74 billion valuation. A separate report from Caproasia.com on July 15 indicated the company was in talks to raise $1.5 billion at a $71 billion valuation. The primary current evidence from Investing.com, captured on July 18, states that DeepSeek is raising fresh capital at a $74 billion valuation ahead of an onshore IPO.