DeepSeek reportedly nears $12bn funding round backed by Tencent and CATL

DeepSeek, a Chinese AI lab, is nearing a $12 billion funding round led by Tencent and CATL, surpassing its previous $50 billion yuan raise. The new round's total could reach 100 billion yuan, driven by strong demand after its latest model launch. DeepSeek is also preparing for a potential IPO on Shanghai's STAR Market.