DeepSeek just closed a monster $1B+ funding round—and the LP list is absolutely wild.
Lead checks came from:
• Zhihu $210M
• Zhejiang Capital $196M
• Bilibili $70M
• Mixue Ice Cream $70M
But here's where it gets spicy—look at the cross-industry FOMO:
• Steel manufacturer: $28M
• Mining company: $28M
• Health supplement brand: $7M
• Home textile company: $7M
• Biotech firm: $14M (+ exec threw in another $28M personally)
• Gaming studio: $7M
• Restaurant chain: $5.6M
These are NOT AI natives. These are traditional business owners scrambling for an AI ticket.
Will they make money? Who knows.
But they bought peace of mind—and that's what late-stage FOMO looks like when everyone's terrified of missing the AI wave.
The real alpha: when legacy industries pile into one narrative this hard, you're either early to the mega-cycle or late to the top. Time will tell.
Lead checks came from:
• Zhihu $210M
• Zhejiang Capital $196M
• Bilibili $70M
• Mixue Ice Cream $70M
But here's where it gets spicy—look at the cross-industry FOMO:
• Steel manufacturer: $28M
• Mining company: $28M
• Health supplement brand: $7M
• Home textile company: $7M
• Biotech firm: $14M (+ exec threw in another $28M personally)
• Gaming studio: $7M
• Restaurant chain: $5.6M
These are NOT AI natives. These are traditional business owners scrambling for an AI ticket.
Will they make money? Who knows.
But they bought peace of mind—and that's what late-stage FOMO looks like when everyone's terrified of missing the AI wave.
The real alpha: when legacy industries pile into one narrative this hard, you're either early to the mega-cycle or late to the top. Time will tell.