DeepSeek to raise at least $12 billion in Tencent-backed funding, Bloomberg News reports

What happened: DeepSeek is close to securing at least 80 billion yuan in its latest funding round, according to Bloomberg News, which cited people familiar with the matter. Reuters could not immediately verify the report. Key numbers: At least 80 billion yuan ($11.93 billion). Conversion rate cited: $1 = 6.7045 Chinese yuan. Why it matters: Contemporary Amperex Technology and Tencent Holdings committed among the largest amounts in the round, per the report, putting a battery maker and a major internet company among the biggest backers.

DeepSeek is close to securing at least 80 billion yuan in its latest funding round, according to Bloomberg News, which cited people familiar with the matter. Reuters could not immediately verify the report.

Contemporary Amperex Technology and Tencent Holdings committed among the largest amounts in the round, per the report, putting a battery maker and a major internet company among the biggest backers.