An institutional source responded to DeepSeek's first external funding round: The news is very likely true, but we are currently unable to invest at all.

On April 18th, news that DeepSeek, a leading Chinese AI company, might be launching its first external financing round continued to circulate within the industry. A recent report from a tech and business-focused media outlet stated that DeepSeek is in talks to introduce external capital for the first time, hoping to bolster its cash reserves and gain a more advantageous position in the high-cost competition of developing top-tier AI models. Previously, the company had repeatedly rejected investment offers from leading Chinese venture capital firms and tech giants. However, according to two sources, the startup has recently begun contacting investors, planning to raise at least $300 million at a valuation of at least $10 billion. In response, an individual from a large state-owned equity institution stated, "We have received feedback that the news of DeepSeek launching its first external financing round is very likely true; we are currently unable to invest at all," adding, "More information is not convenient to disclose." Furthermore, from noon to afternoon on April 18th, attempts to contact two senior executives at Huanfang Quantitative Research via personal phone and WeChat messages were made to verify the DeepSeek financing news, but as of press time, neither executive answered their calls, and their WeChat messages went unanswered. (China Securities Journal)