Impressive yet inexplicable! DeepSeek is valued at 10 billion yuan but only raised 300 million yuan. What big move is Liang Wenfeng going to play? DeepSeek, which once said "never raise funds," recently announced a sudden valuation of $10 billion, but only raised $300 million. The parent company, Huanfang, has quantified an annual profit of over 700 million US dollars. Although it is not lacking in money, Liang Wenfeng's move is really against common sense. Let me analyze why he wants to raise 300 million US dollars. 1、 Deepseek company is not short of money, it is short of "anchor points". Many people think it can't burn anymore. Wrong. Fantasy Fang earns billions of dollars a year, and raising DeepSeek is completely sufficient. The essence of this financing is to use the minimum cost (only 3% equity), and he wants to exchange three core things: 2、 Firstly, stabilize talent and price options Over the past year, the core team of DeepSeek has been fiercely contested: V3 architects went to Xiaomi, multi-modal backbone skipped bytes, and researchers were poached by big companies. It's not that the employees are disloyal, it's that the options are undervalued=worthless paper. With a valuation of 10 billion yuan, the equity held by employees instantly has a market value—— Don't spend money with high salaries, lock people in with capital value. 3、 The second approach is to bind the industrial chain and secure domestically produced chips. V4 is fully adapting to Huawei Ascend and getting rid of the neck of Nvidia. Relying solely on oneself to negotiate the supply chain has low priority, difficulty in obtaining cards, and high costs. Introduce strategic investors (domestic chip/computing power/cloud manufacturers), Technological collaboration+supply chain green channel+policy tilt, all in one step. 4、 The third option is to occupy the first tier of cards and open up one's position. Compared to peers: Kimi is valued at approximately 18 billion, Zhipu at approximately 35 billion, and MiniMax at approximately 40 billion. DeepSeek directly calls for a valuation of $10 billion—— Don't compete with small and medium-sized players, stand directly in the first camp of domestic big models. Only raising 300 million yuan, without diluting control, can still establish industry value. 5、 Liang Wenfeng's true plan turned out to be this: Exchange 300 million yuan for valuation anchors, talent morale, industrial resources, and industry status. Money is not lacking, what is lacking is a market-oriented identity and long-term chips. This is not bowing down for financing, but a strategic layout of small gains and big gains. Do you think this move is right? Mark "right" or "wrong" in the comment section.