DeepSeek restarts 50 billion yuan round at 500 billion yuan valuation

DeepSeek has restarted its second funding round, Caijing magazine reported, citing multiple people familiar with the deal. The company plans to raise another 50 billion yuan at a pre-money valuation of about 500 billion yuan, with a target of signing by late August. DeepSeek hasn't responded to requests for comment.

The round first kicked off in mid-July, then paused at the end of the month. Now that it's back on, DeepSeek and its investors are hoping to keep things quiet. Some institutions still haven't received word that the round has resumed, and the deal hasn't fully reopened to everyone.

DeepSeek closed its first round in June, raising roughly 50 billion yuan. Public disclosures put its post-money valuation at about 350.877 billion yuan.