China AI leader DeepSeek raises $15 billion

DeepSeek has completed a funding round of about $15 billion, one of the largest in China, with the funds to support its international expansion. The Hangzhou-based company last year released models that match leading Silicon Valley models at much lower cost. Before this round, DeepSeek raised its funding target twice, which analysts see as paving the way for its upcoming listing. Meanwhile, multiple governments and regulators have recently stepped up scrutiny of its safety and privacy policies, and some government agencies, including US agencies, have completely banned its technology on government devices.