DeepSeek Pauses $1.48B Funding Round After Founder's Frustration Over Viral Posts

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According to Bloomberg, DeepSeek has paused its second fundraising round after founder Liang Wenfeng expressed frustration with online reports attributed to him about China's AI capabilities and the industry's reliance on Nvidia chips. The Chinese AI startup, owned by hedge fund High-Flyer Asset Management, had been seeking at least 10 billion yuan (US$1.48 billion) at a pre-money valuation of at least 480 billion yuan (US$70.9 billion). While the pause is partly attributed to the viral posts, talks could resume, and it remains unclear whether DeepSeek has informed all prospective investors.
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