DeepSeek raises $7.4B, hits $50B valuation with founder control

Chinese AI lab DeepSeek has completed its first funding round, raising over 500 billion yuan (approximately $74 billion) at a valuation exceeding $50 billion. The round used an unconventional structure: instead of investing directly in DeepSeek, outside investors put money into a limited partnership managed by CEO Liang Wenfeng, ensuring the founder retains absolute control. All investors except for national funds face a five-year lockup period during which they cannot transfer or sell their shares. On the funding source side, founder Liang Wenfeng personally contributed 20 billion yuan, while Tencent invested 10 billion yuan.