Chinese artificial intelligence startup DeepSeek has raised more than 50 billion yuan, equivalent to roughly $7.40 billion, in its first external funding round, valuing the company at over $50 billion, The Information reported on Tuesday.

The deal is structured in a way that preserves control for founder and CEO Liang Wenfeng. According to the report, investors are required to place their capital into a limited partnership managed by Liang, rather than investing directly in DeepSeek itself. They will also face a five-year lock-up period and will not receive voting rights.

China's National Artificial Intelligence Industry Investment Fund is the only investor allowed to bypass these restrictions, having invested directly into the company while retaining both voting rights and freedom from the lock-up, the Information said.

Reuters reported earlier this month that Liang had committed 20 billion yuan of his own money to the round. Tech conglomerate Tencent is considering an investment of 10 billion yuan, and battery manufacturer CATL is looking at 5 billion yuan, which would make them the largest external backers.

DeepSeek rose to global prominence early last year when its V3 and R1 models drew widespread praise in Silicon Valley, challenging assumptions about China's AI capabilities and establishing the firm as a national champion in the field.

Reuters was unable to independently verify the report, and DeepSeek could not immediately be reached by Reuters for comment.