China's DeepSeek is considering expanding its latest funding round to as much as 100 billion yuan ($14.9 billion), double its earlier target, with state-backed funds and corporate investors jostling for stakes, people familiar with the matter told CNBC. The AI startup has fielded strong interest from state-backed funds, investment arms of listed Chinese companies and venture capital firms, according to the two people, who asked not to be named because they were not authorized to discuss the private talks. But DeepSeek is vetting prospective investors closely, turning away private investment funds raised from individual investors and limiting the pool largely to government and corporate funds, the people said.
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