DeepSeek AI startup secures $500 billion RMB financing, Chinese government holds voting rights

Chinese artificial‑intelligence firm DeepSeek completed its first round of external equity financing, raising more than 500 billion yuan (≈ $70 billion) and valuing the Hangzhou‑based company at over 4 trillion yuan. Founder Liang Wenfeng contributed 200 billion yuan and retained near‑total control of voting shares, while major investors such as Tencent (100 billion yuan), CATL (50 billion yuan), NetEase and JD each contributed roughly 30 billion yuan. The state‑run China Integrated Circuit Industry Investment Fund invested 10 billion yuan directly into DeepSeek and retained voting rights, an example of the Communist Party’s “golden share” strategy.

The financing will be used to expand AI infrastructure, boost research and development, provide employee equity incentives and accelerate commercialisation. Analysts note the deal reflects Beijing’s push to embed state influence in leading private tech firms as part of its broader military‑civilian integration policy.