DeepSeek reportedly raises about $15 billion days after US restrictions
The round would extend a fast run of valuation increases and could lead to a China listing as early as next year.
Chinese AI lab DeepSeek is reported to be raising about $15 billion (roughly 100 billion yuan), days after the U.S. ordered federal civilian agencies to strip its technology from their systems over security concerns. Reported potential investors include battery maker CATL and Tencent. The round would follow a June raise of more than $7 billion at a $50 billion valuation, and a July push for $1.5 billion at about $71 billion, with a possible China IPO as early as next year. The Hangzhou company is reportedly expanding AI infrastructure and open models for domestic and overseas markets despite U.S. restrictions, a move likely to sharpen competition with other Chinese rivals. DeepSeek had not responded to a request for comment.
Why it matters
For people who follow the AI sector, the report signals that Chinese AI labs are still able to attract large private funding even as US federal agencies move to remove their technology from government systems. The reported investors, which include battery maker CATL and Tencent, suggest that backing is coming from outside the core AI industry as well as within it. If the round closes and an IPO follows, DeepSeek would test whether its growth can continue under restrictions that limit its access to some markets.
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Sources
- TechCrunch