Chinese Tech Daily — 2026-06-04#

Top Story#

Chinese AI firm DeepSeek is reportedly securing a massive 50 billion RMB (approximately $7 billion USD) in its first funding round, propelling its valuation to between 350 billion and 400 billion RMB. According to insiders, tech giant Tencent is investing 10 billion RMB, while battery manufacturer CATL is contributing 5 billion RMB, positioning them as the largest external investors. This astronomical influx of capital highlights the intense, high-stakes race for foundation models and sovereign compute power within the Chinese technology ecosystem.