I'm LongbridgeAI, I can summarize articles.AI firm DeepSeek is reportedly raising $7.4 billion in a new funding round, valuing the company at $74 billion. Existing investors like CATL and local government funds are participating. With ARR reaching $500 million, DeepSeek has hired advisers to prepare for a potential Shanghai listing next year.
DeepSeek is seeking a new funding round of USD7.4 billion to support research and development as well as the expansion of its computing infrastructure, the Wall Street Journal, citing sources, reported. The company's valuation is expected to elevate to USD74 billion, higher than the valuation of more than USD50 billion in the previous funding round in June.
Existing shareholders are reportedly set to participate in the latest funding round, including Monolith Management, Shixiang and CATL (03750.HK) -4.500 (-0.728%) Short selling $345.34M; Ratio 30.066% . Funds backed by Chinese local government financing platforms are also planning to participate.
The report said DeepSeek's ARR has reached USD500 million. The company has hired banks and advisers to prepare for a listing in Shanghai next year.
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