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DeepSeek is considering doubling its current fundraising target to 100 billion yuan, about $14.9 billion, CNBC reports, as state-backed and corporate investors show interest. The talks remain fluid, so this is a possible fundraising expansion, not a completed round.

Why it matters

What happened DeepSeek initially set a target of 50 billion yuan for the round, according to CNBC, which cites people familiar with the talks. The report says the company is seeking a valuation of about 500 billion yuan, or $75 billion, and is vetting investors, with participation largely limited to government and corporate funds rather than funds raised from individual investors. CNBC says CATL, Geely Auto, Monolith Management and Loyal Valley Capital have committed capital, according to one of its sources. It also reports that the fundraising process has taken longer than planned, partly because some prospective investors questioned the price. The amount could still change before talks conclude. Read CNBC’s report. Why it matters

Discuss: Would a funding round of this scale strengthen DeepSeek’s ability to compete, or make its valuation harder to justify?

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