DeepSeek to raise at least $12 billion in Tencent-backed funding, Bloomberg News reports

Business Recorder, citing a Bloomberg News report, said the company DeepSeek is nearing a fundraising deal worth a minimum of 80 billion yuan, roughly $11.93 billion. The report, published on Tuesday, relied on people with knowledge of the discussions who asked not to be identified. According to the same account, battery maker Contemporary Amperex Technology and Tencent Holdings have committed some of the largest amounts to the round.

Reuters said it had been unable to confirm the account at the time of writing. The amounts therefore remain provisional until the company or other sources confirm them. None of the companies named in the report is listed on the Pakistan Stock Exchange, so the news carries no direct link to local shares.