Key facts
- DeepSeek is finalizing its first external funding round, raising over 50 billion yuan ($7.4 billion).
- DeepSeek's valuation is between $52 billion and $59 billion.
- Tencent and CATL are among the major investors in DeepSeek.
- Alibaba Group has launched its Qwen Robot Suite for robots.
- Alibaba also introduced new AI processors and servers.
- China is accelerating its "AI Plus" strategy to integrate AI into its military.
- President Xi Jinping views AI as crucial for global power status.
- Qualcomm is reportedly in talks to acquire Tenstorrent for $8 billion to $10 billion.
- China has established a national AI pilot base in Nanjing for the steel industry.
Chinese AI lab DeepSeek is on the verge of closing its inaugural external funding round, securing over 50 billion yuan, equivalent to approximately $7.4 billion. This significant investment values the company between $52 billion and $59 billion. The funding structure involves substantial contributions from its founder, Liang Wenfeng, alongside major investors such as Tencent and CATL.
Alibaba Group is making a strategic pivot from chatbots to AI agents with the introduction of its Qwen Robot Suite, its first collection of AI models designed for robots. This suite aims to enable AI to interact with the physical world. To support these advanced applications, Alibaba has also unveiled new AI processors and servers.
In parallel, China is intensifying its "AI Plus" strategy to integrate artificial intelligence across its military. This initiative seeks to bolster communication, electronic warfare, and overall combat effectiveness. President Xi Jinping emphasizes AI's critical role in achieving global power status, driving the development of "intelligentized warfare" and unmanned systems. However, the precise degree of AI integration within the military remains challenging to ascertain.
Furthermore, Qualcomm is reportedly engaged in discussions to acquire the AI chip startup Tenstorrent. The potential acquisition price is estimated to be between $8 billion and $10 billion. These negotiations are ongoing, and the terms, including the price, could be subject to change, or the deal may not be finalized.
On the industrial front, China has established a national AI application pilot base in Nanjing specifically for its metallurgical sector. This initiative is designed to accelerate the adoption of AI within the steel industry through the development of datasets, AI models, and testing platforms.