DeepSeek Nabs $7.4B at $50B Valuation, Founder Keeps Iron Grip

Chinese AI lab DeepSeek has closed its first external funding round, raising over 50 billion yuan (roughly $7.4 billion) at a valuation exceeding $50 billion. The round uses an unconventional structure: instead of investing directly in DeepSeek, outside investors are putting money into a limited partnership managed by CEO Liang Wenfeng, ensuring he retains absolute control over the company.

All investors except state-linked funds face a five-year lockup period during which they cannot transfer or sell their stakes. On the funding source side, founder Liang Wenfeng personally contributed 20 billion yuan, Tencent invested 10 billion…