China's DeepSeek reportedly raising $7 billion

The round includes investments from Tencent and CATL, the battery manufacturer.

The valuation reflects investor confidence in DeepSeek's technology and its potential to compete with leading US AI companies. DeepSeek has gained attention for developing large language models that claim to be more cost-efficient than those of rivals. The company's models have been positioned as a lower-cost alternative in the global AI arms race.

DeepSeek has not officially commented on the report, and the details may still change as the round closes.