Deepseek nears $45 billion valuation as China's state chip fund leads round

THE DECODER / 5/6/2026

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Key Points

  • DeepSeek is reportedly nearing a new funding round that could value the company at around $45 billion, per the Financial Times.
  • A China state-backed chip fund is said to be leading the round, indicating strong government-linked backing.
  • The reported valuation underscores how quickly the Chinese AI lab is attracting major investor attention and capital.
  • The fundraising would further solidify DeepSeek’s position in China’s competitive AI ecosystem, which is closely tied to semiconductor and compute support.

Deepseek is close to a funding round that could value the Chinese AI lab at roughly $45 billion, according to the Financial Times.

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