BEIJING, July 23 - The founder of Chinese AI startup DeepSeek told investors that the company intends to prioritise the pursuit of long-term artificial general intelligence rather than focusing on maximising near-term profits. According to a transcript of a recent four-hour meeting with investors, the founder argued that developing AGI remains the firm's central objective.
At the meeting, the founder said DeepSeek is likely to keep its most advanced models open-source, asserting that open-source development does not preclude commercial monetisation. The comment framed openness and revenue generation as complementary rather than mutually exclusive approaches.
DeepSeek rose to global attention early last year after its low-cost V3 and R1 models drew notice for challenging assumptions about China’s ability to compete with US AI leaders despite restrictions on advanced-chip exports. The company has since shifted strategy: it recently completed its first fundraising round at a roughly $52 billion valuation, marking a reversal of a years-long position against taking external capital. That change comes amid heightened competition from domestic players, including established tech firms and well-funded startups.
During the investor session, the founder described access to computing power as the company’s main constraint, saying the principal gap with the US is rooted in resource availability rather than in technical expertise. He noted plans to construct large AI computing clusters in the future to address that constraint, while remaining undecided on whether to pursue development of proprietary AI chips.
On the topic of chips, the founder was quoted saying: "I hope to be able to buy chips at a reasonable price so that I don’t have to make chips myself." This underscores a preference for procuring components on the market if supply and pricing permit, rather than entering semiconductor manufacturing prematurely.
The founder’s comments appear against a backdrop of export controls. The United States has already restricted exports to China of some of the most advanced AI chips. However, authorities have so far refrained from adding DeepSeek, Chinese memory chipmaker CXMT and more than 100 other companies flagged as national security risks to a trade blacklist, in part to avoid escalating tensions.
Contextual note: The founder’s remarks were delivered in a lengthy investor meeting and are drawn from a meeting transcript. The company’s recent fundraising round and valuation were cited at the meeting.