DeepSeek reportedly raises $15B days after US restrictions

What happened: Two days after the U.S. ordered federal civilian agencies to remove DeepSeek's AI technology over security concerns, the Chinese AI lab raised about $15 billion, Bloomberg reported. Key numbers: About $15 billion (about 100 billion yuan). June round: more than $7 billion at a $50 billion valuation. July: reportedly seeking $1.5 billion at around a $71 billion valuation. Why it matters: The round is one of the biggest in China, with CATL and Tencent among potential investors, and DeepSeek's expansion could further intensify competition among domestic rivals.

Two days after the U.S. ordered federal civilian agencies to remove DeepSeek's AI technology over security concerns, the Chinese AI lab raised about $15 billion, Bloomberg reported.

The round is one of the biggest in China, with CATL and Tencent among potential investors, and DeepSeek's expansion could further intensify competition among domestic rivals.