AIHot~RMB 100B

DeepSeek raises about RMB 100 billion, with CATL and Tencent reportedly investing

Source: Bloomberg; Thu, Oct 22, 2026

Generated graphic, not a news photo

This is a short summary, not a reprint. Read the original for details.

Bloomberg reports that the Hangzhou AI company's round totals roughly RMB 100 billion (about US$15 billion), one of the largest in China. The target was raised from RMB 50 billion to 80 billion and ended far above the original plan. The money is meant for expanding compute and building new models.

Read original ↗Source: Bloomberg · Opens the source in a new tab

In a company announcement, student-founded EdTech platform Custodia Learn says it is in due diligence with a publicly listed Chinese education group at a US$5.4 million valuation, up from US$500,000 in January 2026. The buyer is under NDA and unnamed. The platform reports 19,063 registered users and 8,986 daily active sessions.

AIUS$5.4M valuationCustodia Learn (company announcement)11-13

Xiaohongshu tests a standalone app, Dada, where users build and share AI agents

Ebrun reports Dada is in testing. Users can turn their expertise into agents others can use, interact by text and images, add agents to group chats and share invitations via WeChat. The report does not name the underlying models, and Xiaohongshu has made no public statement.

AITechNode (citing Ebrun)11-13

Analysis: Chinese tech giants are becoming "full-stack physical-AI companies"

Scholar Kyle Chan notes that big firms often own AI models, in-house chips and robots at once. In his table, Alibaba, Tencent, Xiaomi, XPeng and Baidu have all three.

AIFourWeekMBA11-08

Menlo Ventures report: Chinese models take 89% of enterprise open-source model spending, led by Kimi

In the report's open-source category Kimi holds 61%, DeepSeek 15% and Zhipu's GLM 11%. Open-source models are still only about 4% of total enterprise model spending; closed US models take most of the money.

AIHotSCMP11-06

DeepSeek raises about RMB 100 billion, with CATL and Tencent reportedly investing

Related stories

Custodia Learn enters the final stage of due diligence in a US$5.4 million deal

Xiaohongshu tests a standalone app, Dada, where users build and share AI agents

Analysis: Chinese tech giants are becoming "full-stack physical-AI companies"

Menlo Ventures report: Chinese models take 89% of enterprise open-source model spending, led by Kimi