DeepSeek, China's breakthrough AI startup, is raising capital at a $50 billion valuation from government-backed investors as Beijing doubles down on technology self-sufficiency. A one-year-old Chinese state-sponsored fund called China's National Artificial Intelligence Industry Investment Fund, which holds about $8.8 billion in assets, is in advanced negotiations to join this investment round in Chinese currency.

The Hangzhou-based company aims to raise several hundred million dollars, with the........

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