Gate News message, April 25 — DeepSeek is planning to raise $1.8 billion, valuing the company at approximately $20 billion, according to sources familiar with the matter. The fundraising push comes as the AI startup faces significant talent attrition, with multiple core researchers departing to join ByteDance, Tencent, Xiaomi, and autonomous driving company Horizon Robotics.
The company’s move reflects intensifying competition in China’s AI sector. Rivals Zhipu AI and MiniMax have already listed on the Hong Kong Stock Exchange, while Moon, a competing AI startup, completed three consecutive funding rounds in the first quarter of 2026, quadrupling its valuation from the end of last year.
DeepSeek’s fundraising effort signals the company’s need to shore up resources and retain talent in an increasingly competitive landscape dominated by well-funded tech giants.
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