Person
DeepSeek founder and quantitative-finance engineer who built the High-Flyer hedge fund before establishing DeepSeek in 2023.
DeepSeek is reportedly doubling its second round to 100 billion yuan at a valuation near 500 billion yuan, four months after the first. Government-backed and corporate funds are setting that price, on revenue figures attributed to The Information.
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The quarter-size global KV cache and eighth-size persistent storage are serving-cost claims rather than benchmark scores, and banking the second one requires a prefix-cache tier your stack has to already run.
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DeepSeek is close to raising at least 80 billion yuan at a pre-money valuation of about 500 billion yuan, roughly $75 billion, Bloomberg reported. At about 75 times its $1 billion run rate, the round sets the floor a 2027 Shanghai STAR Market listing has to clear.
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DeepSeek released its open-source Harness agent runtime as a Windows and macOS desktop app on September 30, so users no longer need a command line to run it. The agent edits local files and runs commands, so what each user exposes to it decides what it can touch and which provider sees it.
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Harness v0.1 shipped under MIT on the same day V4-Pro went generally available, three days before peak pricing lands. The lock-in it targets is the runtime, not the weights.
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The seven-month numbers behind DeepSeek's pre-IPO round pair the best gross margin anyone reports with one of the smallest revenue lines. A Shanghai filing would put both on the record.
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Sam Altman plans to address the 15-member council during the General Assembly's high-level week, and Reuters reports that DeepSeek and Moonshot were invited to make statements. DeepSeek's founder is not expected there.
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Reports put BYD, Xiaomi and CATL on the list for the summit on the 24th while OpenAI's Sam Altman and Greg Brockman attend the state dinner. Analysts quoted by the South China Morning Post read the missing AI founders two different ways.
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CEO Liang Wenfeng said in investor discussions that Huawei starts delivering AI training chips around Q4 2026 or Q1 2027, and the Inner Mongolia fleet under consideration is 160 times the Ascend cluster DeepSeek ran in June 2026.
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DeepSeek's first CFO arrives with CITIC Securities engaged and a 2027 listing as the goal. The near-term cash is a 50 billion yuan private round, and the two published accounts of June's valuation differ by nearly seven times.
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The reroute drops the peak output rate from $3.96 to $1.20 per million tokens and puts a different model behind every V4-Pro call, on a date DeepSeek picked. The migration work lands on whoever parses the output.
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DeepSeek V4 Flash Vision Exp undercuts Gemini 3.7 Flash by 3.4x on input tokens and 5.7x on output, then spent 3,467 completion tokens and 30.5 seconds on an invoice both models audited correctly.
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The quant fund that seeded DeepSeek with cash and compute now farms state-favored listings, where a fivefold debut and a 460% opening day outran a trading book that lost money in eight of nine products in July, while DeepSeek raises capital elsewhere.
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The Engram explainer sells a second scaling axis beyond mixture-of-experts. The published comparison holds parameters and per-token compute fixed, which makes it a swap.
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ByteDance and Tencent each took about 10,000 Nvidia accelerators, but NDRC case-by-case approval keeps most of the licensed allowance offshore. Domestic silicon still runs the workloads.
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AI-led ICT and bio took about 38 percent of Korea's record 8.87 trillion won half. Unitree closed its Shanghai debut up 460 percent, at an implied 1,200 times earnings.
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