DeepSeek reportedly raises $15 billion ahead of possible IPO

DeepSeek has raised about 100 billion yuan ($15 billion) in a private funding round, according to reports citing people familiar with the financing, as the Chinese artificial intelligence company prepares for a possible initial public offering. The reported financing is among the largest ever raised by a Chinese company. DeepSeek has not confirmed the round or disclosed its terms in the supplied reports. The accounts of the amount and investors trace back to people familiar with the deal, rather than independently established records. DeepSeek reportedly raised its fundraising target from 50 billion yuan to 80 billion yuan before settling on the final amount. Tencent and Contemporary Amperex Technology, the battery maker also known as CATL, were among the largest investors, according to those reports. The financing was described as the company’s second private round. The company is preparing for a possible listing in Shanghai. The Wall Street Journal reported that DeepSeek retained Citic Securities as an adviser, but the reports do not establish that an IPO has been formally scheduled or that the company has made a public announcement about its plans. DeepSeek has begun...