Chinese artificial intelligence startup DeepSeek has reportedly suspended its second round of fundraising, according to a Bloomberg News report citing people familiar with the matter. The Hangzhou-based company informed prospective investors that it would not sign investment agreements in the immediate future, though it may resume the process at a later date.
Prior to the reported pause, DeepSeek intended to raise fresh capital at a valuation of approximately 500 billion yuan ($74 billion). This followed an initial fundraising round that secured approximately $7.4 billion. The company has also held preliminary discussions regarding a potential initial public offering (IPO) on Shanghai's STAR Market, a tech-focused stock exchange.
The reported suspension is attributed in part to concerns from DeepSeek founder Liang Wenfeng regarding the public dissemination of remarks he made to investors during the company's first funding round. DeepSeek did not immediately respond to requests for comment, and the reports have not been independently verified.