DeepSeek could reportedly file for an IPO as soon as this year, joining its rivals in capitalizing on investor enthusiasm for low-cost Chinese AI. The startup is also considering raising new funds from private investors weeks after completing its first financing round that valued the company at $52 billion. DeepSeek upended the AI industry last year with its cheap and effective open-source model, but Chinese AI is moving from the “DeepSeek moment” to the “Zhipu moment,” Goldman Sachs analysts wrote in a recent note.
Zhipu, which went public along with fellow Chinese AI lab MiniMax earlier this year, bucked a recent tech-stock rout in Hong Kong and the mainland, which investors have credited partially to its bet on frontier model research over quick revenue from consumer apps. The startup’s strategy marks a shift in China’s AI scene, which is known for prioritizing widespread adoption over the loftier frontier research often championed by Silicon Valley.