DeepSeek has reportedly paused its 2-nd fundraising round before investors signed new agreements.

The interrupted round targeted a valuation near $74B after DeepSeek raised about $7.4B in June.

The pause was reportedly linked partly to Liang Wenfeng's frustration that remarks he made during a private investor meeting had spread online.

So during those event， Liang said DeepSeek still relied heavily on Nvidia chips and that China continued to trail the US in AI capability. He also said DeepSeek would prioritise AGI research over short-term profit and would probably keep its strongest models open-source.

DeepSeek is also considering a Shanghai STAR Market IPO， so its capital strategy remains active. The pause looks tactical because DeepSeek is slowing commitments while preserving financing options.