Large model company DeepSeek is nearing completion of its second financing round with the target amount doubled to approximately 100 billion yuan from an initial plan of 50 billion yuan. Despite the rapid increase in fundraising scale over less than two weeks, the pre-investment valuation remains steady at roughly 500 billion yuan, with new and existing shareholders each contributing about half of the capital. The round has attracted primarily industrial investors, including Shixi Capital, SMIC Capital, CPE Yuanfeng, Legend Capital, and Geely. This significant capital expansion underscores continued strong demand for large model infrastructure development as DeepSeek scales its operations with backing from major technology and automotive sector players.