Chinese AI Firm DeepSeek Gets 100 Million Yuan From Tencent
Hangzhou-based DeepSeek has announced that it received 100 million Chinese yuan in funding from Tencent and battery maker Contemporary Amperex Technology, known as CATL. The investment shows big Chinese tech and battery firms backing homegrown AI companies.
Quick glossaryDeepSeek, CNY, CATL
- DeepSeek
- Hangzhou-based Chinese AI company, best known for building powerful AI models that are cheaper to run.
- CNY
- The currency code for the Chinese yuan, the money used in China for everyday payments and business.
- CATL
- A Chinese battery maker, short for Contemporary Amperex Technology, that supplies batteries for electric vehicles and other uses.
Burning Potato score: 66%