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DeepSeek's second funding round raises 105.5 billion yuan, valuation reaches 615.5 billion yuan

According to foreign media citing sources, DeepSeek's second funding round raised 105.5 billion yuan (equivalent to 15.8 billion US dollars), with nearly 30 investors contributing jointly, at a valuation of 615.5 billion yuan. Industrial investors include ChangXin Memory Technologies, SMIC, Tencent, Meituan, CATL and others, each investing 1 billion to 3 billion yuan. The original article also noted that in the first funding round, investors other than the National AI Fund were required to give up voting rights and lock up their shares for five years, giving Liang Wenfeng 100% of voting rights.

DeepSeek's second funding round of 105.5 billion yuan: investor list revealed, CATL leads

The Information has revealed details of DeepSeek's second funding round, which has raised 105.5 billion yuan (about $15.8 billion), attracting nearly 30 investors. Tencent and CATL each contributed 10 billion yuan, with ChangXin Memory Technologies, SMIC, Meituan, vivo, Xiaohongshu and others also on the list. State-owned investors contributed about 27% of the amount in this round, far higher than 2% in the first round, with China Mobile, China Telecom, CICC, CITIC Securities and China Life among the participants. The report said that due to rising prices of Nvidia's high-end chips and precautions against an AI bubble, DeepSeek doubled its fundraising target midway through the round.

CrowdStrike says VAPOR PANDA attacked more than 200 organizations using the DeepSeek-driven ARTEX framework

CrowdStrike's report states that the China-linked group VAPOR PANDA used an AI-driven intrusion framework called ARTEX, built primarily on the DeepSeek large language model with another commercial model as a secondary component, to target more than 200 organizations in at least 14 countries over 11 days starting October 17, 2026, and confirmed post-compromise activity at 9 of them. ARTEX consists of a main agent and planning and execution sub-agents that share a fact and goal graph; in a single intrusion the planning agent consumed about 1.4 billion input tokens, and operators issued commands in Chinese and intervened at key junctures. CrowdStrike also says the group deployed the BLOODALCHEMY backdoor at some targets, and predicts that China-linked adversaries will increasingly adopt such agent frameworks over the next 12 months.

DeepSeek and MiniMax Complete AI Model Overseas Registration, Compliance Pathway Implemented

DeepSeek and MiniMax have completed the AI model overseas registration procedures, navigating the compliance process for open-source release and overseas licensing of large models. MiniMax's technology export registration this time covers some recently released and soon-to-be-released models, spanning both open-source release and overseas licensing scenarios. Previously, the Ministry of Commerce and the Ministry of Science and Technology publicly solicited opinions on October 16 regarding the revision of the Catalog of Technologies Prohibited or Restricted from Export in China, proposing to include 23 AI technologies within the scope of export controls.

DeepSeek and MiniMax complete AI model overseas registration, with compliance processes for open-source releases and overseas licensing now fully operational

DeepSeek and MiniMax have completed the relevant registration procedures, fully establishing the compliance processes for the open-source release and overseas licensing of their large models. According to Science and Technology Innovation Board Daily, MiniMax's technology export registration this time covers some recently released and soon-to-be-released models, spanning two major scenarios: open-source releases and overseas licensing. Previously, on October 16, the Ministry of Commerce and the Ministry of Science and Technology jointly issued an announcement soliciting public comments on the revision of the Catalog of Technologies Prohibited or Restricted from Export in China, proposing to include 23 AI technologies within the scope of export controls.

DeepSeek Establishes Product Department, Quantitative Trader Cui Tianyi to Coordinate Four Teams Including Harness

On October 16, DeepSeek established a product department, integrating the four teams Harness, Web, App, and Platform, headed by Cui Tianyi, who comes from a quantitative trading background, to coordinate product, design, and R&D. Previously, Guo Daya, a core contributor to R1, left in March 2026 to join ByteDance Seed due to optimism about the Agent direction not being a high priority within DeepSeek. DeepSeek Harness was open-sourced under the MIT license on August 13, and as of mid-October the repository had accumulated about 250,000 GitHub Stars.

DeepSeek's $15 billion financing will be used for a 1GW data center in Ulanqab, Inner Mongolia

According to 36Kr, DeepSeek's $15 billion financing will be used to build a 1GW data center in Ulanqab, Inner Mongolia, equipped with at least 160,000 Huawei Ascend 950DT chips. Ulanqab's low-cost renewable energy is key to controlling the facility's high operating costs. CATL added $1.4 billion in this round to establish its role as a supplier of complete energy solutions including energy storage, direct green power connection and grid interfaces.

CATL invests in DeepSeek, Liang Wenfeng helps Zeng Yuqun stabilize the capital market narrative

According to foreign media reports, DeepSeek's new funding round is about 100 billion yuan, with CATL as one of the main investors; the CATL system had previously invested about 5 billion yuan in DeepSeek's first funding round. The article argues that CATL's third-quarter net profit attributable to shareholders rose only 14.5% year-on-year, and its A-shares fell 12.03% the next day; investing in DeepSeek provided it with an AI narrative anchor. The CATL system has also invested in computing power and power supply-related targets such as Vianet and Zhongheng Electric, with the three disclosed or reported transactions totaling more than 15 billion yuan.

DeepSeek and MiniMax complete open-source and overseas licensing registrations; MOFCOM clarifies the scope of AI technology export management

Yuyuantantian published an article stating that since the policy was announced, DeepSeek and MiniMax have smoothly completed registration procedures and completed open-source and overseas licensed use. On October 16, MOFCOM and the Ministry of Science and Technology publicly solicited opinions on revising the Catalog of Technologies Prohibited or Restricted from Export in China, planning to add 23 AI technologies related to large models, agents, computing clusters, and information processing, while technologies that have entered the public domain through open-source, published papers, and other means are not included in the scope of management. MOFCOM stated that enterprises using restricted-category large models to provide API calls, APP or web interaction, SaaS applications, and local on-device lightweight deployment to external parties does not fall within the scope of large-model technology export management, while overseas localized deployment does fall within the scope of management, and deployment in risk-controllable situations such as overseas self-owned clouds may apply facilitation measures such as automatic licensing.

DeepSeek reportedly raises about $15 billion two days after US restrictions take effect

According to Bloomberg, DeepSeek raised about $15 billion (approximately RMB 100 billion) two days after the US asked federal civilian agencies to remove its technology, with potential investors including CATL and Tencent. This is a new funding round following the more than $7 billion raised in June at a $50 billion valuation, and the report says the company is also advancing plans for a domestic IPO. The report notes that DeepSeek is increasing investment in AI infrastructure and open models while facing restrictions in the US.

Sources say DeepSeek's new funding round aims to raise about 100 billion yuan, with Tencent and CATL leading

On October 22, market sources said that DeepSeek plans to raise about 100 billion yuan (about $15 billion) in its latest funding round, with Tencent and CATL as the largest investors in this round. The deal is expected to be officially completed within the next few days, and DeepSeek, Tencent, and other investors have not publicly responded. Sources said the fundraising target was initially 50 billion yuan and was raised multiple times to about 100 billion yuan; the final amount is still not fully determined, and the funds will continue to be used for model training, computing power construction, and talent recruitment. In June this year, DeepSeek completed its first funding round of about 51 billion yuan, of which Liang Wenfeng personally contributed about 20 billion yuan, Tencent about 10 billion yuan, and the CATL system about 5 billion yuan.

DeepSeek reportedly raises about $15 billion, with CATL and Tencent as major investors

Bloomberg reports that DeepSeek has completed a funding round of about $15 billion, one of the largest private financings in China. During negotiations, its funding target was raised at least twice, from about $7.5 billion to $12 billion; CATL and Tencent are the largest investors, with CATL reportedly contributing about $1.5 billion, twice that of the first round. Chinese media put the pre-money valuation at about $74.8 billion, unchanged even as the funding size doubled, meaning the new capital obtained a larger stake at the same price. Together with the first round of more than $7.5 billion completed in June, DeepSeek has raised a total of about $22.5 billion in roughly six months.

U.S. Department of Homeland Security requires federal civilian agencies to remove DeepSeek

The U.S. Department of Homeland Security (DHS) has ordered federal civilian agencies to immediately stop procuring DeepSeek products and services and to remove them from government information technology systems; the order applies to civilian executive branch agencies, excludes national security systems, and does not restrict public use of DeepSeek. DHS says the DeepSeek model has multiple threat vectors, with reasons including servers located in China, account registration collecting personally identifiable information, multiple critical vulnerabilities found in the iOS app, and prompt interactions potentially allowing sensitive data to leak out. China's Ministry of Commerce responded that it consistently opposes over-broadening the concept of national security and politicizing science, technology and trade issues, and stated it will take all necessary measures to safeguard the legitimate rights and interests of Chinese enterprises.

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