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DeepSeek nears US$7b haul in first-ever funding round, with backing from Tencent, CATL

DeepSeek nears US$7b haul in first-ever funding round, with backing from Tencent, CATL
South China Morning Post Wednesday 03 June 2026, 09:00 UTC By Wency Chen,Ben Jiang 1 min read
Key Points

Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under US$60 billion, according to people familiar with the matter – marking a six-fold leap from its US$10 billion valuation in April. The blockbuster round highlights intensifying global competition and a shifting strategy for the AI breakout star, which had previously resisted external capital. Market-oriented investors...

Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under US$60 billion, according to people familiar with the matter – marking a six-fold leap from its US$10 billion valuation in April. The blockbuster round highlights intensifying global competition and a shifting strategy for the AI breakout star, which had previously resisted external capital. Market-oriented investors and...
Tencent, CATL Chinese (ORG) AI (ORG)
Originally published by South China Morning Post Read original →

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