China
DeepSeek
CNY 10.0B
second fundraising round
Summary
DeepSeek paused its second fundraising round after telling prospective investors that expected investment agreements would not be signed. The company had been seeking at least 10 billion yuan at a pre-money valuation of at least 480 billion yuan, after a June round that raised US$7 billion from backers including Tencent and Contemporary Amperex Technology Co Ltd.