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On October 30th, DeepSeek completed its second round of financing, raising RMB 105.5 billion (approximately US$15.8 billion), valuing the company at approximately RMB 615.5 billion. Tencent Holdings invested a total of US$1 billion in both rounds, while CATL and Zeng Yuqun invested US$5 billion and US$1 billion respectively in their respective rounds. Other investors included Changxin Memory Technologies, SMIC, vivo, Meituan, Geely Automobile, Midea Group, Luxshare Precision, Ctrip, Xiaohongshu, China National Artificial Intelligence Industry Investment Fund, China Mobile, China Telecom, CICC, CITIC Securities, and China Life Insurance. Some individual investors invested between US$1 billion and US$3 billion, while institutional investors invested between US$2 billion and US$8 billion.