STORY: AI startup DeepSeek is expected to raise around $7.4 billion in its first funding round.
That's according to sources, who said investors will include tech firm Tencent and battery giant CATL.
They added the fundraising could value the Chinese company after the investment at between $52 billion and $59 billion.
DeepSeek is also in final talks with China's national AI fund, the sources said, as well as other possible investors including e-commerce titan JD.com.
DeepSeek became China's national AI champion and scored global fame early last year.
Its V3 and R1 models drew widespread praise in Silicon Valley and challenged U.S. assumptions about China's AI capabilities.
The country's national AI fund, and lineup of potential DeepSeek investors, show China's efforts to build a more self-sufficient AI industry.
The sources said DeepSeek is expected to complete the funding round within the next couple of weeks.
The startup has to date not made any statements about whether it plans an initial public offering sometime in the future.
