Chinese artificial intelligence developer DeepSeek is planning a new fundraising round at a valuation of approximately 500 billion yuan ($74 billion), according to people with knowledge of the matter.
The capital raise is being positioned as a precursor to a potential initial public offering on mainland Chinese exchanges.
The move marks a significant step in the company's public market ambitions.
DeepSeek has previously indicated it is preparing to file for an IPO as early as the end of 2026, with a target debut scheduled for 2027.
The fresh capital injection aims to bolster the company's resources ahead of the listing process.
This development underscores the growing maturity of China's AI sector, where private valuations are reaching levels comparable to established global tech giants.