DeepSeek is in talks to raise $10B at a $45B valuation — the largest first-time fundraise by a Chinese tech startup. Founder Liang Wenfeng is focused on AGI, not short-term profit, as sovereign backers rush to fund China's open-source AI champion.
As hyperscalers pour $600 billion into compute, Elon Musk builds orbital data centres, and OpenAI prepares its IPO, the second half of 2026 will cement a new technological feudalism where sovereignty is leased from lords of cloud.
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