DeepSeek could raise $12 billion or more, with Tencent set to be one of its largest backers. The Chinese AI firm is near a deal worth RMB 80 billion or more. CATL, the battery giant called Contemporary Amperex Technology, has pledged a large sum as well.
Its latest AI model gave the cash plan a boost. The first goal was RMB 50 billion ($7.5 billion). But backers have signed term sheets that point to a much higher sum. The total could reach RMB 100 billion ($15 billion).
DeepSeek first sought a value near RMB 500 billion ($75 billion) for the deal. Those terms may still change. A stock market debut is on the agenda, with plans to alter the firm's structure once the round ends. CATL declined to comment, while Tencent gave no quick reply. DeepSeek did not respond.
This would be its second round with outside cash. The first valued the firm at about RMB 350 billion ($52 billion). Founder Liang Wenfeng put in roughly RMB 20 billion ($3 billion). Tencent led the rest of the backers with RMB 10 billion ($1.5 billion).
Liang built DeepSeek out of his High-Flyer hedge fund. Its chatbot launch led traders to sell tech stocks, which got a lot of people talking. Tencent has since made AI a bigger part of its plans, and its music business has already put DeepSeek to use.
Tencent has a controlling stake in Tencent Music Entertainment, or TME. The group runs QQ Music, Kugou Music, Kuwo Music, WeSing, and Ximalaya. CEO Ross Liang said DeepSeek helps with AI song tools, user help, comments, and music picks.
An annual filing from TME gave more detail on its use of AI for song creation. Both fans and artists can use those tools. And QQ Music and Kugou Music have AI agents that make custom playlists on demand. TME has linked its services with Tencent's Weixin XiaoWei AI assistant as well.
TME chairman Cussion Pang has backed copyright rules and the need to protect the value of creative work. Yet DeepSeek faces claims over its use of songs. The International Confederation of Music Publishers, or ICMP, has accused the AI firm of using protected lyrics without a license.
ICMP chief John Phelan claims DeepSeek took music content from the web for commercial AI use. He shared a clip that he said showed the chatbot giving out lyrics from Taylor Swift's Love Story and Ed Sheeran's Shape of You. The claims concern how DeepSeek may have used music that belongs to rights holders.
Its latest AI model gave the cash plan a boost. The first goal was RMB 50 billion ($7.5 billion). But backers have signed term sheets that point to a much higher sum. The total could reach RMB 100 billion ($15 billion).
DeepSeek first sought a value near RMB 500 billion ($75 billion) for the deal. Those terms may still change. A stock market debut is on the agenda, with plans to alter the firm's structure once the round ends. CATL declined to comment, while Tencent gave no quick reply. DeepSeek did not respond.
This would be its second round with outside cash. The first valued the firm at about RMB 350 billion ($52 billion). Founder Liang Wenfeng put in roughly RMB 20 billion ($3 billion). Tencent led the rest of the backers with RMB 10 billion ($1.5 billion).
Liang built DeepSeek out of his High-Flyer hedge fund. Its chatbot launch led traders to sell tech stocks, which got a lot of people talking. Tencent has since made AI a bigger part of its plans, and its music business has already put DeepSeek to use.
Tencent has a controlling stake in Tencent Music Entertainment, or TME. The group runs QQ Music, Kugou Music, Kuwo Music, WeSing, and Ximalaya. CEO Ross Liang said DeepSeek helps with AI song tools, user help, comments, and music picks.
An annual filing from TME gave more detail on its use of AI for song creation. Both fans and artists can use those tools. And QQ Music and Kugou Music have AI agents that make custom playlists on demand. TME has linked its services with Tencent's Weixin XiaoWei AI assistant as well.
TME chairman Cussion Pang has backed copyright rules and the need to protect the value of creative work. Yet DeepSeek faces claims over its use of songs. The International Confederation of Music Publishers, or ICMP, has accused the AI firm of using protected lyrics without a license.
ICMP chief John Phelan claims DeepSeek took music content from the web for commercial AI use. He shared a clip that he said showed the chatbot giving out lyrics from Taylor Swift's Love Story and Ed Sheeran's Shape of You. The claims concern how DeepSeek may have used music that belongs to rights holders.
