Tencent and CATL back DeepSeek's $15B funding round to challenge top US AI labs: report

Arundhati Sarkar

• The Chinese AI pioneer DeepSeek (DEEPSEEK) has raised about 100 billion yuan ($15 billion) in its latest fundraising round, one of the country’s largest ever and a sign of the startup’s ambitions to compete globally with the likes of Anthropic PBC (ANTHRO) and OpenAI (OPENAI), Bloomberg reported.
• The Hangzhou-based firm boosted its financing target at least twice as it talked with investors, from 50 billion yuan to 80 billion yuan before reaching the final tally, the report said.
• Battery pioneer Contemporary Amperex Technology Co. Ltd. (CYATY) and WeChat-operator Tencent Holdings Ltd. (TCEHY) were among the biggest investors in the round.

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