Chinese AI firm DeepSeek will raise further capital at a $74 billion valuation before listing on a home exchange. The most recent funding round comes as the company gets ready for an onshore IPO. Earlier, DeepSeek earned attention for linking to China’s Kimi model. Its rapid progress has sparked concerns in US markets over heightened competition. Reports also highlight warnings that American firms were caught off guard by the quickness of China’s advancements. The developments follow previous warnings about China’s Kimi model and its potential threat to America’s AI lead.