DeepSeek raises $15bn days after US bans its technology

Summarised from 2 outlets · Updated 22 Oct, 17:58 · Archive

Chinese AI firm DeepSeek has raised $15 billion, days after the US government ordered federal agencies to remove its technology.

Chinese AI firm DeepSeek has raised $15 billion in one of China's largest funding rounds, just days after the US Department of Homeland Security ordered federal civilian agencies to remove its technology over national security concerns. The funding round saw investors raising their commitments due to steep demand, according to Bloomberg. Investors included Chinese tech giant Tencent and battery maker CATL.

DeepSeek is reportedly preparing for a potential initial public offering in Shanghai in the near future. The Hangzhou-based firm is ramping up spending on AI infrastructure and open models for domestic and international markets. This follows a previous funding round in June when the company raised more than $7 billion at a valuation of $50 billion.

The DHS said DeepSeek's technology 'presents multiple threat vectors' and noted that government use of the models 'may result in the transfer of sensitive data to the People's Republic of China if used by US government employees or vendors'. The Commerce Department, the US Navy and New York state have enacted similar restrictions on the use of DeepSeek's models. DeepSeek sparked significant market disruption in January 2025 after releasing an open-source model with capabilities rivalling those of US firms like OpenAI and Anthropic.

How it is being reported

• Chinese AI firm DeepSeek raises $15B in latest challenge to OpenAI, Anthropic: reportChinese artificial intelligence firm DeepSeek raked in $15 billion in a fresh fundraising round as it looks to challenge US-based labs like OpenAI and Anthropic, according to a report.New York Post · 22 Oct, 17:43
• DeepSeek reportedly raises $15B days after US restrictionsDeepSeek has reportedly raised $15 billion in one of China's largest funding rounds, just days after the US ordered federal agencies to remove its technology over national security concerns.TechCrunch · 22 Oct, 14:11

In this story: DeepSeek · Tencent · CATL · Hangzhou · China · United States · OpenAI · Anthropic

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