Sources for the publication indicate that the terms being discussed imply a valuation of DeepSeek greater than $20 billion.
They say this is the first instance the startup will seek external funding.
DeepSeek is owned by the Chinese hedge fund Zhejiang High-Flyer Asset Management, co-founded by Liang Wenfeng, who established the AI startup in 2023.
DeepSeek achieved significant acclaim in early 2025 after launching an AI model that matched the performance of its American rivals, even with China’s restricted access to cutting-edge technology and global talent. Since that time, the company has kept a fast rate of new launches.
A major distinction between DeepSeek and its U.S. rivals, OpenAI and Anthropic, is that its models are open source and can be downloaded for free.
source: ft.com
