DeepSeek reportedly close to closing $15 billion fundraising to fuel the race
Article excerpt
((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) * CATL and Tencent are among the lead investors, according to sources * DeepSeek was valued at 500 billion yuan before the injection of new capital * This fundraising paves the way for DeepSeek's initial public offering on the domestic market * Investor sentiment has deteriorated globally toward AI-related stocks (Redacted with analyst commentary and context throughout the article) by Kane Wu, Yantoultra Ngui and Eduardo Baptista Chinese AI start-up DeepSeek has raised about 100 billion yuan ($14.98 billion) in its latest funding round from investors including chipmaker GigaDevice 603986.SS, food delivery company Meituan 3690.HK and automaker Geely 0175.HK, according to four people familiar with the matter. Battery maker Contemporary Amperex Technology (CATL) and WeChat operator Tencent Holdings 0700.HK, both existing shareholders, were among the lead investors in the round, two of the sources said. Home appliance maker Midea 000333.SZ and existing shareholder NetEase 9999.HK also participated, the sources said. Other investors include Boyu Capital, CPE and Legend Capital, as well as existing shareholder IDG Capital, three of the sources said. The total number of investors participating in the funding round exceeded 15, one of the...
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Last month, the company unveiled its latest model, DeepSeek-V4.1-Flash, which it said was designed to offer enhanced capabilities, faster inference, higher throughput and scalability to larger models.
