DeepSeek nears $15 billion funding round backed by Tencent, CATL, reports say
Chinese AI lab DeepSeek is finalizing a funding round of about 100 billion yuan, according to Reuters and Bloomberg. The company has not confirmed the deal.
Graphic: TERRA WORLD NEWS (own graphic based on the sources listed)
Chinese artificial intelligence startup DeepSeek is finalizing one of the largest funding rounds in China's AI sector, according to media reports. Reuters, citing two people familiar with the matter, said the round totals about 100 billion yuan, or roughly $15 billion. Internet giant Tencent and battery maker CATL are among the biggest investors.
Bloomberg reported that DeepSeek raised its target at least twice, from 50 billion yuan to 80 billion yuan and then to about 100 billion yuan. The round is expected to close in the coming days, and terms could still change. The Hangzhou-based company has not commented publicly.
The money could help narrow the gap with U.S. rivals; OpenAI and Anthropic have each raised more than $100 billion. DeepSeek triggered a tech stock sell-off in 2025 with models built at relatively low cost. Bloomberg has reported that the company is also preparing for a possible initial public offering.