DeepSeek raises about $15 billion from Tencent, CATL and other investors, sources say
Four people with knowledge of the matter told Reuters the Chinese AI company raised about 100 billion yuan, double its original target, from more than 15 investors. The round is expected to close in the coming days, and terms could still change.
Chinese artificial intelligence company DeepSeek has raised about 100 billion yuan ($15 billion) in its latest funding round, Reuters reported on Thursday 22 October, citing four people with knowledge of the matter. Bloomberg first reported the $15 billion figure, according to Reuters.
Battery maker CATL and WeChat operator Tencent, both existing shareholders, were among the biggest investors, two of the people said. Other investors include chipmaker GigaDevice, food delivery company Meituan, carmaker Geely, appliance maker Midea, NetEase, IDG Capital, Boyu Capital, CPE and Legend Capital, according to Reuters. One person said the total number of investors was more than 15.
Sources have said DeepSeek is valued at 500 billion yuan before the new money, and the round is double its original target of 50 billion yuan, Reuters reported. A second person said the round was set to close in the coming days, but that the financial details and list of investors could still change.
DeepSeek could not be reached for comment, and Geely declined to comment, Reuters said.
The Hangzhou-based company raised $7.4 billion in its first external funding round in June, and in September it hired CITIC Securities to prepare for a possible listing on Shanghai’s STAR Market, Reuters has reported.
The funding report followed an order by the US Department of Homeland Security for federal civilian agencies to remove DeepSeek products. See also: US Homeland Security orders federal civilian agencies to remove DeepSeek AI products.
Sources
- DeepSeek wrapping up $15 billion fundraising to fuel AI race, sources say · Reuters (via StreetInsider)
- DeepSeek nears $15 billion funding round backed by Tencent, CATL · China Daily
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