Chinese AI startup DeepSeek is close to securing at least 80 billion yuan (about $11.93 billion) in its latest funding round, Bloomberg News reported Tuesday, citing people familiar with the matter. Battery maker CATL and Tencent Holdings have committed among the largest amounts in the round.
DeepSeek initially sought roughly 50 billion yuan, but investor demand exceeded expectations following the company's latest AI model launch, and the final tally could approach 100 billion yuan. The report underscores how the company has become the centerpiece of China's effort to build a homegrown AI ecosystem less dependent on Nvidia's hardware.
DeepSeek recently partnered with Huawei Technologies on programming tools optimized for Huawei's Ascend AI chips, released its DeepSeek-V4.1-Flash model last month touting greater capability, faster inference and higher throughput, and hired CITIC Securities to prepare for a potential STAR Market listing. DeepSeek, Tencent and CATL did not immediately respond to Reuters' requests for comment, and Reuters said it could not independently verify the Bloomberg report.
