Up until two months ago, DeepSeek, the three-year-old Chinese AI lab, was an anomaly in the increasingly costly global AI battle. It had relied entirely on CEO Liang Wenfeng’s personal wealth and never raised outside money. That changed in the middle of this month, when DeepSeek completed a $7.4 ...

Up until two months ago, DeepSeek, the three-year-old Chinese AI lab, was an anomaly in the increasingly costly global AI battle. It had relied entirely on CEO Liang Wenfeng’s…

China’s AI funding is surging: DeepSeek’s record $7.4bn raise, 381 unicorns, and two new robot unicorns show US pressure is fuelling the boom.