DeepSeek plans $1.5B raise and 2027 IPO

DeepSeek, the Chinese AI startup founded in 2023, is preparing for a 2027 IPO that could come as early as the end of this year. It seeks around $1.5 billion in new funds at about a $71 billion valuation, following a $7 billion raise at a $50 billion valuation a month ago. Investors include Tencent and Beijing's National Artificial Intelligence Industry Investment Fund.