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DeepSeek weighs up to 100 billion yuan fundraising, double initial target

Chinese AI company DeepSeek is considering expanding its latest funding round to as much as 100 billion yuan, double its initial 50 billion yuan target. CNBC reported it is seeing strong demand from state-backed funds, investment arms of listed firms and venture capital, while excluding some privately funded pools. Reuters reported it is close to securing at least 80 billion yuan and is seeking a 500 billion yuan valuation.