DeepSeek reportedly raises $15 billion days after US restrictions

DeepSeek reportedly raised about $15 billion, equivalent to about 100 billion yuan, according to Bloomberg, just two days after the United States required federal civilian agencies to remove its AI technology over security concerns. The report says potential investors include battery maker CATL and Tencent. The round follows its June funding of more than $7 billion at a $50 billion valuation; in July the company was also reported to be seeking another $1.5 billion at a valuation of about $71 billion, and it plans an IPO in China as early as next year. The Hangzhou-based lab is increasing investment in AI infrastructure and open-source models for domestic and international markets, which could further intensify domestic competition, the report says. In the same period, Moonshot AI raised $2 billion in May at a $20 billion valuation, and Manus AI raised more than $500 million earlier this month.