DeepSeek raises $15 billion amid U.S. security ban

DeepSeek, a Chinese AI lab, secured about $15 billion (roughly 100 billion yuan) just two days after the United States ordered federal civilian agencies to remove its technology over security concerns. The funding round, described by Bloomberg as one of China’s biggest, attracted interest from firms such as battery maker CATL and internet giant Tencent, which runs WeChat. It follows a June round that raised more than $7 billion at a $50 billion valuation, and a July effort to raise an additional $1.5 billion at a roughly $71 billion valuation, with a potential IPO in China as early as next year. DeepSeek, based in Hangzhou, says it will use the money to expand AI infrastructure and open‑source models for both domestic and overseas customers, even as it faces U.S. restrictions. The influx of capital comes as Chinese AI companies worldwide are pulling in billions: Moonshot AI’s Kimi secured $2 billion at a $20 billion valuation, Manus AI raised over $500 million, and Hong‑Kong‑listed Zhipu AI (Z.ai) and MiniMax now have market caps of about $29 billion and $7.2 billion respectively. DeepSeek did not respond to a request for comment. ## Context The large fundraise shows Chinese investors are willing to back AI firms despite U.S. security worries, underscoring the fierce global race for AI leadership.