China’s biggest state-backed ​semiconductor investment vehicle, ‌China Integrated Circuit Industry ​Investment ​Fund, is in talks ⁠to ​lead the financing ​of DeepSeek’s first fundraising that ​could value ​the frontier AI ‌lab ⁠at about $45 billion, the Financial Times ​reported ​on ⁠Wednesday, citing four ​people with ​knowledge ⁠of the discussions.