DeepSeek's new funding round is nearing completion, with the amount raised roughly 100 billion yuan, setting a record for a single funding round in China's AI sector, with CATL and Tencent as the main investors. Together with the first funding round in the first half of this year, in which CATL-related entities contributed 5 billion yuan, DeepSeek has raised over 150 billion yuan cumulatively in half a year. CATL's two large capital injections are not purely financial investments but rather a strategic layout based on compute-power synergy. The move is intended to lock in major clients for businesses such as energy storage for intelligent computing centers, connect the complete closed loop of "green power—energy storage—power distribution—computing power," and open up new growth space. CATL had previously laid out AIDC-related businesses by investing in Zhongheng Electric, 21Vianet and others, gradually building a complete chain for power supply to AI computing power.