DeepSeek raises $15 billion despite US security restrictions
DeepSeek has raised approximately $15 billion, one of the largest funding rounds in China, two days after the US ordered federal agencies to remove its technology. The funding supports infrastructure expansion and open models for domestic and international markets.
Two days after the U.S. ordered federal civilian agencies to remove DeepSeek's AI technology from their systems over security concerns, the Hangzhou-based Chinese AI lab raised approximately $15 billion, or about 100 billion yuan. This is one of the largest funding rounds in the country, according to Bloomberg. Potential investors include Chinese battery maker CATL and Tencent, the company behind WeChat. This follows a June investment round where DeepSeek raised more than $7 billion at a $50 billion valuation. In July, the company was reportedly seeking an additional $1.5 billion at a valuation of around $71 billion, with plans for a potential IPO in China as early as next year. DeepSeek is ramping up spending on AI infrastructure and open models for domestic and international markets despite U.S. restrictions. The funding highlights a broader trend of investors pouring billions into AI companies globally. This includes Chinese rivals like Moonshot AI, which secured $2 billion at a $20 billion valuation in May, and Manus AI, which raised more than $500 million earlier this month.