CHINA TO INVEST IN DEEPSEEK AT $50 BILLION VALUATION

Summary from the TLDR AI newsletter

DeepSeek is in talks to raise money from China's National Artificial Intelligence Industry Investment Fund, a one-year-old government-backed fund with around $8.8 billion in capital. The startup aims to raise a few billion dollars in the new round, which values it at around $50 billion. DeepSeek is a key component in China's plan to have top-class homegrown companies in a range of AI fields. The strategy is a way to hedge against US export controls and to take leadership in bringing AI to the world.