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The latest round of financing for Hangzhou DeepSeek Artificial Intelligence Fundamental Technology Research Co., Ltd. (DeepSeek) is nearing completion, with a scale of at least 80 billion yuan. The amount for which term sheets have already been signed could approach 100 billion yuan, far exceeding the initial fundraising target of approximately 50 billion yuan. Currently, the financing process is nearing its end, with Contemporary Amperex Technology Co. Limited (CATL) and Tencent Holdings potentially being the investors with the highest committed capital. The funds raised will be used to support the company's IPO. At the end of September, Yan Wentao, a former partner of Hillhouse Capital, joined DeepSeek as Chief Financial Officer, accelerating the preparations for the IPO.
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