According to reports, Chinese artificial intelligence giant DeepSeek is preparing to conduct an initial public offering as early as the second quarter of next year, with the aim of funding its costly R&D and boosting growth. DeepSeek is discussing listing in Shanghai with investors and banks, according to people familiar with the matter. According to these sources, the company aims to submit the IPO application documents before the end of this year. Last month, the Hangzhou-based company raised $7.4 billion in its first round of external financing, and investors valued the company at more than $50 billion. People familiar with the matter said that earlier this month, founder Liang Wenfeng also began negotiations with potential investors to raise more capital in a new round of financing. Some sources said that Liang Wenfeng is seeking financing at a valuation of 71 billion US dollars or more.

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