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The Hangzhou founder personally signs off on $15 expenses and gave every senior executive a performance score of 1 out of 1.5.
The Hangzhou model lab is preparing a mainland listing, choosing China's largest brokerage as sponsor rather than a Hong Kong or offshore route.
The raise would rank among the largest secondary equity offerings in Hong Kong this cycle, earmarked for AI infrastructure and model spend.
Liang Wenfeng told Yicai that DeepSeek will keep releasing its frontier models as open weights, prioritising AGI over commercial returns.
The AI accelerator spinout would list in Hong Kong at a valuation that rivals top global chip designers, per The Information.
The Chinese AI lab behind R1 is moving from self-funded curiosity to venture-backed frontier player with a single round larger than most of its rivals' lifetime totals.
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