DeepSeek in talks to raise $7 billion from Tencent, CATL and other investors

Chinese AI startup DeepSeek is poised to raise around 50 billion yuan ($7 billion) in its first external funding round, with backing from major investors including Tencent Holdings and battery giant CATL, according to sources familiar with the matter cited by Reuters. The financing would value DeepSeek at between 350 billion yuan and 400 billion yuan ($49 billion–$56 billion) on a post-money basis, the sources said, underscoring growing investor confidence in China’s rapidly expanding AI sector.