China's state-backed chip fund in talks to lead DeepSeek's first funding round

China's state-backed chip fund is negotiating to lead DeepSeek's first funding round, which could raise $3 billion to $4 billion and value the AI startup at up to $50 billion, according to Reuters. The fund, known as the National Integrated Circuit Industry Investment Fund or the Big Fund, is a key instrument of Beijing's semiconductor self-sufficiency strategy. DeepSeek, a Chinese AI company, has gained attention for its large language models. The potential investment underscores the Chinese government's push to bolster domestic AI and chip sectors amid US export controls. The deal is not yet finalized and terms could change.