Tencent Deals

DeepSeek had been seeking at least 10 billion yuan in a follow on round at a roughly 480 billion yuan valuation, but has paused closing the deal after founder Liang Wenfeng’s leaked remarks about reliance on Nvidia chips and China’s AI lag sparked controversy.([business-standard.com](https://www.business-standard.com/world-news/deepseek-puts-fundraising-on-hold-after-founder-s-remarks-go-viral-report-126072501034_1.html))

DeepSeek is reportedly negotiating a $1.5 billion raise at a $71 billion valuation ahead of a planned IPO.

Kuaishou is spinning off its Kling AI video-generation business into an independent company backed by up to $3 billion from Tencent, Alibaba, Baidu and other investors, with a mandated IPO by 2031.

Planned first external funding round of roughly 500 billion CNY to scale DeepSeek’s frontier AI research and infrastructure.

B and B+ rounds totaling 1 billion RMB to fund Tianji Intelligent’s embodied AI hardware R&D, large-scale production and global sales expansion.