# China's Big Fund Leads DeepSeek Investment, Valuation Nears $45 Billion

- Category: Flash (快讯)
- Published: 2026-05-07T11:56:00.000Z
- Source date: 2026-05-07
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According to the Financial Times, China's National Integrated Circuit Industry Investment Fund (Big Fund) is negotiating to lead an investment in DeepSeek, with the current valuation nearing $45 billion, doubling from two weeks ago. Founder Liang Wenfeng may personally co-invest, while Tencent and Alibaba are also discussing participation. This marks the Big Fund's first investment in an AI large model company.

## At a glance

- Big Fund negotiates to lead DeepSeek investment, valuation doubles to nearly $45 billion in two weeks
- First AI large model investment for Big Fund, with Tencent and Alibaba discussing participation

## The update

According to the latest report from the Financial Times, the National Integrated Circuit Industry Investment Fund, commonly known as the Big Fund, is in deep negotiations to lead an investment in the artificial intelligence company DeepSeek. Reports indicate that DeepSeek's valuation in this funding round is approaching $45 billion, equivalent to approximately 306.7 billion yuan. This valuation represents a doubling from the $20 billion recorded just half a month ago, reflecting strong market confidence in its prospects. Notably, this investment marks a milestone, as the Big Fund has never previously invested in the AI large model sector, making DeepSeek its first portfolio company in this field. In addition to the Big Fund's leading role, DeepSeek founder Liang Wenfeng may personally co-invest. Meanwhile, domestic tech giants Tencent and Alibaba are also in discussions to participate, with interest from multiple capital sources further boosting the company's market prominence.

## Sources

- [智东西](https://mp.weixin.qq.com/s/UggNZv8WQQwpkGMyK94Xsg) (2026-05-07)

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