DeepSeek plans to raise $1.8 billion in funding, with a valuation of approximately $20 billion.

According to traders, DeepSeek’s recent open fundraising initiative is primarily driven by severe talent attrition. Several core researchers have successively departed, joining ByteDance, Tencent, Xiaomi, and autonomous driving company Yunruilink. Meanwhile, competitors Zhipu AI and MiniMax have already listed on the Hong Kong Stock Exchange, and Moonshot raised funding in three consecutive rounds during the first quarter of this year, with its valuation more than quadrupling since the end of last year.