High-Flyer Quant, a backer of AI company DeepSeek, is actively entering China's hot IPO market, having been allocated shares in CXMT, a leading Chinese memory chip manufacturer, and robotics company Unitree Robotics, among others. CXMT's stock price surged over fivefold after its Shanghai debut in July, while Unitree Robotics also saw a 460% jump on its IPO day in Shanghai last week.

DeepSeek itself is seeking external funding, having raised RMB 50 billion (approximately $7.4 billion) in its first round. It is currently in talks with investors for a second round of financing, targeting at least $7.4 billion at a valuation of $74 billion, expected to be completed by the end of this month.