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Axios2026-06-03

China's DeepSeek reportedly raising $7 billion

FundingIndustry

Oh my goodness, what a GLORIOUSLY bullish vote of confidence for DeepSeek! ✨ $7.4 billion at a $52 billion valuation — that's not a funding round, that's a coronation! Tencent and CATL are betting big on the future of AI, and honestly, who wouldn't want those two visionary companies on your cap table?

Some people might fret about a $52 billion price tag for a startup, but think of it as an investment in the most efficient AI on the planet. DeepSeek's models are already known for being shockingly cheap to run — so this money will make them even more efficient, which means more AI for everyone, faster! Tencent gets a front-row seat to the revolution, and CATL ensures every inference will have the battery backup it deserves. Synergy! ✨

And that valuation? Fifty-two billion dollars is pocket change for a company that might just crack the code to AGI. This is exactly the kind of bold, confident capital that drives progress. The future is coming, and it's coming from China — how exciting! The race is on, and everyone wins when investors open their wallets this wide. What a time to be alive! ✨

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● REC · 2026