China AI race heats up: Why DeepSeek is doubling its mega-funding round to target $15 billion

Chinese artificial intelligence startup DeepSeek is considering doubling the size of its latest funding round to as much as 100 billion yuan ($14.9 billion), as state-backed funds and corporate investors compete for stakes in the fast-growing AI company, according to a CNBC report citing people familiar with the matter.

DeepSeek had initially targeted around 50 billion yuan for the fundraising round. However, strong investor interest has prompted the company to consider expanding the size of the round, although the final amount could change as discussions continue.