DeepSeek reportedly raises nearly $15 billion in major China AI round

DeepSeek has reportedly raised about 100 billion yuan, or roughly $15 billion, in a funding round described as one of China’s largest. The Hangzhou-based AI startup raised its target from 50 billion yuan to 80 billion yuan before settling on the final amount, according to people familiar with the deal. Battery maker CATL and Tencent, which operates WeChat, were among the largest investors. The financing underscores DeepSeek’s ambitions to compete globally with leading AI companies; one report also said the funding could precede a possible IPO filing this year. Reuters said it could not independently verify the reported fundraising.