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DeepSeek reportedly plans to raise about USD 7 billion in its first funding round at a valuation of up to USD 59 billion. Tencent and CATL are expecte…

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<a href="/company/deepseek">DeepSeek</a> reportedly plans to raise about USD 7 billion in its first funding round at a valuation of up to USD 59 billion. <a href="/company/tencent">Tencent</a> and <a href="/company/catl">CATL</a> are expected to be the largest external investors, with <a href="/company/netease">NetEase</a> and <a href="/company/jd">JD.com</a> also expected to participate.

Liuliumei plans to offer about 11.46 million H-shares at HKD 43.58 each, with trading expected to begin June 15, according to a Hong Kong filing.

Leapmotor will launch updated C10, C11, and C16 models on June 16, with the C10 featuring new exterior styling, revised lighting and added interior features including second-row tables.

Homeplus has approached <a href="/company/alibaba">Alibaba</a> and Temu as potential buyers for its hypermarket and online units, as PwC Korea markets the assets to over ten investors ahead of a July 3 court restructuring deadline.

<a href="/company/xiaomi">Xiaomi</a> will launch the 17T Pro on June 8, featuring a MediaTek Dimensity 9500 chip built on a 3-nm process, with a 33% GPU performance gain and 42% lower power use, plus a Leica triple camera.

The Huawei-led Harmony Intelligent Mobility Alliance (HIMA) has introduced a RMB 20,000 trade-in discount for the Maextro S800 sedan, targeting owners of select luxury car brands. The offer excludes existing HIMA trade-in incentives.

<a href="/company/bytedance">ByteDance's</a> AI assistant Doubao lost 6.07 million monthly active users in May, a 1.81% decline, after introducing paid subscription tiers. It remains China’s largest consumer AI app with 330 million users, while <a href="/company/alibaba">Alibaba</a>’s Qwen gained 13 million to reach 234 million.

<a href="/company/deepseek">DeepSeek</a> raised about USD 7 billion in its first external funding round at a USD 59 billion valuation, with <a href="/company/tencent">Tencent</a>, <a href="/company/catl">CATL</a>, and founder Liang Wenfeng participating.

Merus Power and <a href="/company/catl">CATL</a> have signed an agreement to deliver about 3 GWh of battery energy storage systems (BESS) in Northern Europe, targeting grid-scale projects in the region.

Luxeed has recruited a former Ferrari chief designer and a chassis tuning team with experience at BMW and Aston Martin, according to executive vice president Zhao Changjiang. The brand, part of the Harmony Intelligent Mobility Alliance (HIMA), currently offers the S7, R7, and V9 models and plans to expand its lineup.

ZTE has announced a partnership with <a href="/company/tencent">Tencent</a> to launch an <a href="/industry/ai">AI</a> cloud computer featuring the latter's WorkBuddy agent. The device integrates Tencent Cloud computing power and the Hunyuan large model, targeting students, professionals, and small teams.

China's supply chain gets a boost as the data center buildout sparks shortages and price hikes.

AI demand strains supplies of lasers, fiber, and other optical tech

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ByteDance, a Chinese internet company, uses machine learning to recommend engaging videos, news, and social content (via TikTok and Douyin).

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What guides machine-led insights? Uncover AI applications, language models, and decision-making systems transforming sectors worldwide.

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Foundation and Large Models

The video model has become a key growth driver for ByteDance’s AI business.

ByteDance raises Volcano Engine’s MaaS revenue target on Seedance 2.0 growth

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Hong Kong

The financing is being viewed as a pre-IPO round, with Kling’s pre-money valuation equal to about two-thirds of Kuaishou’s market value.

Kuaishou’s Kling AI seeks fresh funding ahead of planned 2027 IPO

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DeepSeek seeks USD 7 billion funding

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AI demand strains supplies of lasers, fiber, and other optical tech

ByteDance raises Volcano Engine’s MaaS revenue target on Seedance 2.0 growth

Kuaishou’s Kling AI seeks fresh funding ahead of planned 2027 IPO