DeepSeek Said to Raise Latest Funding Round at About RMB 100 Billion

The doubling of the intended raise, if accurate, signals far stronger appetite for Chinese frontier AI exposure than the initial plan implied — and it lands amid a broader scramble for compute and talent that has made such rounds a proxy for strategic positioning rather than pure financial return. The absence of named investors, a valuation and a closing date leaves the ownership structure opaque, which matters because who funds DeepSeek shapes its access to chips, cloud capacity and overseas markets. Whether the round actually closes at the enlarged size, and whether any backers are disclosed, is the open question.