DeepSeek seeks $300 million at $10 billion valuation, targeting global expansion

DeepSeek is negotiating its first external funding round to raise at least $300 million.

The fundraising effort targets a company valuation of $10 billion or more.

Chinese hedge fund High-Flyer Capital Management previously provided all financing for the startup.

DeepSeek develops high-performance AI models at lower costs than U.S. rivals.

The company intends to use the capital to accelerate commercialization and global expansion.