Reuters: DeepSeek is set to raise $12B

Reuters reports DeepSeek is expected to raise more than 80 billion yuan ($11.93 billion) in a new round, exceeding its original 50-billion-yuan target; the report cites one person with knowledge and says the financing is still in progress. That scale could reshape the model-and-compute race, but neither the round’s final size nor its spending plan is settled. Builders tracking China’s fast-moving model field should pair this report with the model release cadence in China’s five-model sprint and wait for a closing disclosure before treating the capital as committed.