Analysis
Pulse reported Thursday that DeepSeek had raised about $15 billion, or 100 billion yuan, according to Bloomberg -- one of the largest funding rounds in China, coming two days after the US ordered federal civilian agencies to remove DeepSeek's AI technology from their systems. The Information now reports the figure is nearing $16 billion, per its own reporting on the same round.
What changed: the $1 billion gap between the two outlets' figures most likely reflects a round that was still being finalized when Bloomberg's initial number circulated, rather than a correction of a wrong figure. Rounds of this size, syndicated across Chinese state-linked and strategic investors, commonly see the final tally shift as later-closing participants are added. The Information's reporting is behind a paywall and does not, in the portion available, name DeepSeek's investors for this tranche; Pulse's prior coverage cited reported anchor investors CATL and Tencent for the broader raise.
“Rounds of this size, syndicated across Chinese state-linked and strategic investors, commonly see the final tally shift as later-closing participants are added.”
Either figure confirms the core story: DeepSeek is raising near-record Chinese venture capital days after a US directive aimed at curbing its reach, a sign that domestic investor appetite for the lab has not been dented by the restriction.