DeepSeek raised about $15 billion in funding ahead of a possible IPO - Quartz Africa
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DeepSeek raised about $15 billion in a private funding round as the Chinese AI startup prepares for a possible public listing, according to The Wall Street Journal and Bloomberg. The round was DeepSeek’s second private financing, according to The Wall Street Journal. DeepSeek is working on an accelerated IPO timeline and is aiming for a listing in Shanghai, the Journal reported. If the plan works out, DeepSeek might reach the stock market before both OpenAI and its Chinese peer Moonshot AI, according to The Wall Street Journal. The round totaled about 100 billion yuan, according to Bloomberg. The Hangzhou-based company lifted its fundraising goal on at least two occasions while negotiating with investors, starting at 50 billion yuan and rising to 80 billion yuan before it settled on the final figure, according to Bloomberg. Bloomberg described it as one of the largest financing rounds in China's history. Tencent and Contemporary Amperex Technology, China's largest battery maker, were among the biggest investors, according to Bloomberg. According to The Wall Street Journal, both had backed DeepSeek in an earlier fundraise. Existing shareholders Monolith Management and Shixiang contributed new capital, and new backers included semiconductor-focused private-equity firm Stony Creek Capital, Legend Capital, which Lenovo backs, and carmaker Geely, according to The Wall Street...
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The company is partnering with Huawei Technologies to shift its training work onto chips made in China, the Journal said.
