British media: China's largest state-backed semiconductor investment fund — the National Integrated Circuit Industry Investment Fund (commonly known as the "Big Fund") — is leading negotiations for DeepSeek's first round of financing, with an estimated valuation of around $45 billion.
If the deal goes through, this will mark the first time the Chinese cutting-edge AI laboratory has accepted external investment, signaling its transition from independent research and development to incorporating strategic national capital, while also reflecting China's strong emphasis on achieving self-reliance in AI chips and foundational models.
Original source: toutiao.com/article/1864432506886340/
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