DeepSeek raised about 100 billion yuan, equivalent to $15 billion, in its latest funding round, according to Bloomberg. The Hangzhou-based company increased its initial target from 50 billion yuan to 80 billion before settling on 100 billion. Contemporary Amperex Technology and Tencent Holdings were among the largest investors. DeepSeek is also preparing for a potential IPO, which could become a major event for Chinese equity markets, as it seeks to compete more aggressively with Anthropic and OpenAI.
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