DeepSeek Raises $15B Days After US Orders Agencies to Remove Its AI Tech

Chinese AI lab DeepSeek has raised about $15 billion (roughly 100 billion yuan) in one of China's largest funding rounds, two days after the U.S. ordered federal civilian agencies to remove its AI technology from government systems over security concerns, Bloomberg reported. Potential investors include battery maker CATL and WeChat operator Tencent, according to the report. The round follows DeepSeek's June raise of more than $7 billion at a $50 billion valuation; the company reportedly sought an additional $1.5 billion in July at a valuation of around $71 billion and is weighing a potential IPO in China as early as next year. The Hangzhou-based startup, founded in 2023 by Liang Wenfeng, is increasing spending on AI infrastructure and open models despite U.S. restrictions. The deal caps a wave of Chinese AI financing: Moonshot AI secured $2 billion at a $20 billion valuation in May, Manus AI raised over $500 million this month, and listed peers Zhipu AI and MiniMax hold market capitalizations of roughly $29 billion and $7.2 billion, respectively.