Chinese AI firm DeepSeek raises $15B in latest challenge to OpenAI, Anthropic: report

Chinese 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. The Hangzhou, China-based firm – one of several open-source contenders that have lured users with ultra-cheap, high-performance AI models – twice raised its fundraising target due to steep demand from investors, Bloomberg reported Thursday, citing people familiar with the matter. Investors in DeepSeek’s latest round included Chinese tech giant Tencent and battery maker Contemporary Amperex Technology, the report said. DeepSeek is reportedly preparing to go public in Shanghai the near future. DeepSeek sparked a $1 trillion market meltdown in January 2025 with the release of an open-source model with capabilities rivaling those of US frontier labs like OpenAI and Anthropic.

First reported by New York Post. This page is a short excerpt; the full text is theirs.