Chinese AI startup DeepSeek is looking to raise roughly 50 billion yuan at a valuation of 500 billion yuan (US$74 billion) - while the company warned developers a day later that it's raising prices. The resumed funding round, first reported by Chinese business outlet Caijing (via The Standard), is expected to be signed by the end of the month, with the process kept deliberately quiet; some participating institutions reportedly haven't even been formally told the deal is back on. The pricing notice, posted Thursday to DeepSeek's developer platform, warns that API rates will rise across the board and that the increase is expected to be "significant."
Image: Mojahid Mottakin - stock.adobe.comThe round restarts barely two weeks after it was shelved, and roughly six weeks after DeepSeek's first-ever external raise in June, which pulled in some $7.4 billion from Tencent, CATL, Beijing's National AI Industry Investment Fund, NetEase, JD.com, Monolith Management and IDG Capital at a valuation north of $50 billion (corporate filings later implied a figure closer to $52 billion). The new target is a steep markup on a deal that closed weeks ago, and the prospective investor list reportedly blends returning backers with new money that couldn't get into round one.
As we noted last month, the round stalled
