DeepSeek reportedly raises $15B days after US restrictions

Bloomberg reported that Chinese AI lab DeepSeek raised about $15 billion (roughly 100 billion yuan), one of the country's largest funding rounds, just two days after the U.S. ordered federal civilian agencies to remove its AI technology over security concerns. Potential investors include CATL and Tencent, following DeepSeek's June round of more than $7 billion at a $50 billion valuation and a reported July effort to raise an additional $1.5 billion at around a $71 billion valuation, with plans for a potential IPO in China as early as next year. DeepSeek, founded in 2023 by Liang Wenfeng, is ramping up spending on AI infrastructure and open models for domestic and international markets despite U.S. restrictions.