DeepSeek reportedly raises about US$15 billion days after US order

DeepSeek's reported funding round

15 US$ billion

The Chinese AI lab has reportedly raised about US$15 billion, roughly 100 billion yuan, two days after the US ordered federal civilian agencies to remove its technology.

Potential investors include the battery maker CATL and Tencent, the company behind WeChat, according to the report.

DeepSeek's funding

1. June

   Raised more than US$7 billion at a US$50 billion valuation

2. July

   Reportedly sought US$1.5 billion at a valuation of about US$71 billion

3. This week

   Reportedly raised about US$15 billion

The round follows two earlier ones this year, and the company is based in Hangzhou.

What's next

DeepSeek is ramping up spending on AI infrastructure and open models, with a possible IPO in China as early as next year.