DeepSeek reportedly close to raising at least $12 billion

Bloomberg reports DeepSeek is close to securing at least 80 billion yuan ($12 billion), above its initial target of about 50 billion yuan. People familiar with the matter told Bloomberg that CATL and Tencent have committed among the largest amounts. Based on signed term sheets, the final tally could approach 100 billion yuan (about $15 billion), they said.