DeepSeek close to sealing $7 billion funding

DeepSeek finalizes $7.4 billion round led by Tencent and founder Liang Wenfeng with 30 billion yuan from external investors and 20 billion yuan from founder at a 350 billion yuan valuation. The state-backed National AI Fund joins, signaling Beijing's support. Tencent invests 10 billion yuan, the largest single contribution, aiming to embed AI into WeChat services.