Chinese artificial intelligence startup DeepSeek is reportedly close to raising at least 80 billion yuan, equivalent to roughly $12 billion, in a massive new funding round. The financing is heavily backed by major industry heavyweights, including tech giant Tencent Holdings and battery pioneer Contemporary Amperex Technology. Initially targeting a more modest fundraising goal, the company saw investor interest surge following the successful launch and strong market reception of its latest models. Based on signed term sheets, the final valuation for the startup is expected to approach or exceed $75 billion. Once this financing round officially closes, DeepSeek plans to restructure its operations in preparation for an initial public offering slated for early 2027.

Full report : Surging investor demand drives massive capital injection for Chinese AI startup, DeepSeek.