China’s DeepSeek seeks billions in maiden fundraising push

BEIJING, China: DeepSeek could be valued at up to US$50 billion in its first external fundraising round, as the company moves away from its long-standing strategy of avoiding outside investment, sources said. The startup is looking to raise between $3 billion and $4 billion to expand computing capacity and improve employee benefits, according to people familiar with the matter. China’s state-backed 60-bil