DeepSeek is about to go big.
According to the FT citing people familiar with the matter, DeepSeek is in the process of launching a new round of fundraising, with a target valuation of about $71 billion. The plan is still in early discussions, and the company has already started approaching new investors.
Let’s compare the timeline: the valuation in the first round of fundraising in June was just over $50 billion. Within a few months, the valuation has jumped by more than 40%. The repricing of China’s AI assets is still ongoing.
My observations:
1) This valuation level puts DeepSeek near the threshold of the global AI first-tier. While it still lags behind OpenAI and Anthropic, the narrative is increasingly being discussed on the same “table” as them.
2) The story of an open-source path combined with low-cost training is moving from the tech community into the pricing logic of primary-market investors.
3) The mapping to the crypto space is very direct—valuation anchors for the AI + Crypto segment effectively track the fundraising pace of leading AI companies. Each time DeepSeek moves up a tier, the on-chain AI narrative gets another window to ride that momentum.
Key risks to watch: the fundraising is still at a preliminary stage, and the final valuation and deal structure could change. Geopolitical factors may also continue to affect the level of participation from overseas capital.
For now, jot down the news—don’t rush to chase the narrative. Wait until the final deal terms are released to see whether this number can truly hold up.
#DeepSeek #AI