Chinese battery giant CATL plans to invest in AI startup DeepSeek's first outside funding round
Chinese battery giant CATL plans to join DeepSeek's first outside funding round, targeting about 50 billion yuan (7.35 billion dollars) and possibly closing in June, per CnEVPost and Bloomberg. CATL wants to sell power equipment to AI data centers. Sources: CnEVPost, Bloomberg
Chinese electric-vehicle battery giant CATL plans to take part in DeepSeek's first outside funding round, according to CnEVPost and Bloomberg. The deal would mark a notable crossover for CATL, best known as one of the world's largest battery suppliers, into the Chinese artificial-intelligence sector. The round is targeting around 50 billion yuan, roughly 7.35 billion dollars, and could close as early as June. Reported valuations for DeepSeek have climbed quickly in recent weeks: from about 10 billion dollars in early April, to above 20 billion in late April, and up to a range of 45 to 50 billion dollars in recent reports. For CATL, the rationale appears strategic as well as financial. The company has been pushing into power-supply equipment for large AI data centers, where electricity demand is growing rapidly and storage and grid infrastructure are increasingly tied to compute capacity. China's National Artificial Intelligence Industry Investment Fund and the chip-focused Big Fund III are reportedly in talks to lead or anchor the round, with other Chinese tech players also in discussion. Sources: CnEVPost, Bloomberg