Chinese regulatory filings from luggage maker Anhui Korrun and Jiuan Medical have provided data on the valuation of artificial intelligence startup DeepSeek. According to a stock exchange filing on Thursday, an investment fund backed by Anhui Korrun deployed 2.9 billion yuan ($428 million) for an indirect 0.8265% stake in the company. This transaction implies a total equity valuation of approximately 350.88 billion yuan ($51.82 billion).
The filings provide public details on DeepSeek's maiden external fundraising round, which the private company had not previously disclosed. A separate filing from Jiuan Medical indicated its subsidiary invested 750 million yuan for an approximately 0.21% indirect stake, corroborating the pricing tiers reported by Anhui Korrun. DeepSeek did not immediately respond to requests for comment regarding the valuation figures.
DeepSeek, based in Hangzhou, gained international attention for developing AI models at a lower cost than several U.S. competitors. While previously funded by its founder’s hedge fund, reports indicate the company sought outside capital this year to expand computing capacity and prepare for a potential initial public offering on the Shanghai STAR Market. Recent reports suggest the company is already planning a subsequent funding round that could value the startup at 500 billion yuan.