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

DeepSeek capitalizes on efficiency and strategic alliances as it closes a record-breaking fundraising round. 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.

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