DeepSeek Plans First CFO Ahead of Possible IPO

DeepSeek plans to appoint Yan Wentao, a partner at GL Ventures, as its first chief financial officer as the Chinese AI startup prepares for a potential initial public offering. The appointment would mark a shift from a research lab financed by founder Liang Wenfeng’s hedge fund to a more conventional corporate structure, with Yan expected to oversee investor relations, financial controls and other public-listing preparations. DeepSeek has reportedly hired CITIC Securities to advise on a possible listing on Shanghai’s STAR Market and is raising additional funds to support computing infrastructure, chip development and talent recruitment. Reports have placed the company’s potential valuation at roughly 500 billion yuan, though earlier fundraising valuations have varied. Yan has experience investing in AI companies, including DeepSeek rival MiniMax, while GL Ventures’ parent firm, Hillhouse Investment, is not reported to be an investor in DeepSeek.