DeepSeek, China's best-known AI lab, is close to raising $12bn to $15bn from Tencent, CATL and state funds before a share sale planned for 2027 →
DeepSeek is near a second funding round of 80 to 100 billion yuan, double what it first asked for, with most of the money going on computers. Its rival Moonshot AI is heading for a Hong Kong share sale, OpenAI said sorry to Australia's parliament, and Google is moving free Gemini users onto its cheapest model on Friday.