DeepSeek doubled its fundraising goal to about $15 billion.
Chinese AI lab DeepSeek is raising about 100 billion yuan, roughly $15 billion, Bloomberg and Reuters reported on Thursday. It raised its target twice from 50 billion yuan, with battery maker CATL and Tencent among the biggest investors. Reuters says the round should close within days, and DeepSeek has not announced it.
Why it mattersThe cash pays for more data centres and more of the free open models many developers build on. OpenAI and Anthropic have each raised over $100 billion, so DeepSeek still competes with far less money.
Read in the app — free, in 9 languages
Related stories
China-linked hackers turned an AI agent on over 2,250 company clouds.2026-10-22Governments took websites offline over the AI-found PHP flaw.
2026-10-22OpenAI's top models are coming to Google's cloud.
2026-10-21OpenAI bought a startup whose agents chase drug trial delays.
2026-10-21Anthropic's draft listing shows a loss bigger than its revenue.
2026-10-21