DeepSeek lands $15 billion as China’s AI race intensifies: Report

Chinese AI startup DeepSeek has secured about 100 billion yuan ($15 billion) in its latest fundraising round, marking one of the country’s largest financings as it prepares to compete more aggressively with global leaders such as Anthropic and OpenAI, Bloomberg reported Wednesday, citing people familiar with the matter.

The Hangzhou-based company raised its target from an initial 50 billion yuan to 80 billion yuan before settling on the final amount, according to the report.

Contemporary Amperex Technology, a leading battery maker, and Tencent Holdings were among the biggest investors. The financing also comes as DeepSeek prepares for a potential IPO, following reports that the company is considering a public listing that could become a major event for Chinese equity markets.

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