DeepSec Market Valued Over $50B
The Wall Street Journal reported that Chinese AI company DeepSec has raised $7.4 billion in its initial funding round, boosting its position as the largest Chinese startup in the field with a market value estimated at around $50 billion. Its founder, Ren Liang Wenfeng, who controls about 90% of the shares before the funding, currently has an investment of approximately $3 billion in the company and retains the right to manage it. This move comes as the Chinese AI sector is competing with its American counterpart, despite DeepSec’s models being a few months behind the leading companies in the United States.
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