DeepSeek reportedly raises $15B despite US technology restrictions

The Chinese AI lab DeepSeek reportedly raised about $15 billion, or 100 billion yuan, just two days after the U.S. ordered federal civilian agencies to remove its AI technology over security concerns. Potential investors include Chinese battery maker CATL and Tencent. This follows a June funding round where DeepSeek raised over $7 billion at a $50 billion valuation, and a July round seeking $1.5 billion at a $71 billion valuation. DeepSeek plans a potential IPO in China as early as next year and is increasing spending on AI infrastructure and open models for domestic and international markets.