Chinese EV Battery Giant CATL Plans to Invest in DeepSeek

Chinese battery giant Contemporary Amperex Technology, better known as CATL, is planning to invest in Chinese AI developer DeepSeek’s fundraising, according to two people with direct knowledge of the matter. CATL’s planned investment comes as it is aggressively stepping up its efforts to sell power equipment to AI data centers.

DeepSeek’s first-ever funding round, which aims to raise about 50 billion yuan ($7.35 billion), could close as early as next month, according to the people. DeepSeek could be valued at more than 350 billion yuan ($51.4 billion) after the deal is completed, including the new capital, The Information previously reported.