DeepSeek reportedly doubled its latest fundraising target as black-market prices for Nvidia’s advanced AI chips surged

On Oct. 31, 2026, The Information reported that DeepSeek doubled its latest fundraising target as black-market prices for Nvidia’s advanced AI chips surged. That is the outlet’s account of the price increase and its connection to the fundraising target.

The outlet said the nearly $16 billion round attracted backing from Tencent, CATL and some of China’s most powerful state-owned institutions. Its public post did not specify how much each backer invested; The Information’s article on DeepSeek’s funding requires a subscription to read in full.