DeepSeek has completed roughly RMB100 billion in new financing (~$15bn), a record single-round raise in the China AI sector, multiple lead investors confirmed. The round target was increased from RMB80bn to RMB100bn; incumbent backers CATL and Tencent were main participants, with IDG Capital, Lisi Capital and Shixiang Capital continuing to follow. New investors are predominantly industry capital, including Lenovo-linked Junlian Capital, GigaDevice-linked Shixi Capital, Geely Auto industrial fund

DeepSeek has completed roughly RMB100 billion in new financing (~$15bn), a record single-round raise in the China AI sector, multiple lead investors confirmed. The round target was increased from RMB80bn to RMB100bn; incumbent backers CATL and Tencent were main participants, with IDG Capital, Lisi Capital and Shixiang Capital continuing to follow. New investors are predominantly industry capital, including Lenovo-linked Junlian Capital, GigaDevice-linked Shixi Capital, Geely Auto industrial fund, SMIC Juyuan and later entrant Hengdian Capital.