Chinese AI startup DeepSeek is close to securing at least 80 billion yuan ($12 billion) in its latest funding round, with Tencent and Contemporary Amperex Technology Co. Limited (CATL) among its major backers. Sources say investor demand has significantly exceeded the company’s initial targets.
The final amount could reach 100 billion yuan (about $14.9 billion). DeepSeek, known for its cost-effective, powerful AI models, is also moving toward a planned initial public offering that could take place in early 2027.