中国人工智能先锋企业深度求索在最新一轮融资中筹集了约1000亿元人民币（约合150亿美元），这是中国有史以来最大规模融资之一，显示出这家初创公司志在与Anthropic PBC和OpenAI等全球竞争对手一较高下。
The Chinese AI pioneer DeepSeek has raised about 100 billion yuan ($15 billion) in its latest fundraising round, one of the country’s largest ever and a sign of the startup’s ambitions to compete globally with the likes of Anthropic PBC and OpenAI.
据知情人士透露，这家总部位于杭州的公司在与投资人洽谈过程中，至少两次上调融资目标，从500亿元增至800亿元，最终达到上述规模。知情人士称，电池先驱宁德时代新能源科技股份有限公司和微信运营商腾讯控股有限公司是本轮融资最大的投资方之一。因细节未公开，知情人士要求不具名。
The Hangzhou-based firm boosted its financing target at least twice as it talked with investors, from 50 billion yuan to 80 billion yuan before reaching the final tally, according to people familiar with the matter. Battery pioneer Contemporary Amperex Technology Co. Ltd. and WeChat-operator Tencent Holdings Ltd. were among the biggest investors in the round, said the people, asking not to be named as the details aren’t public.
深度求索的融资为近年来最受瞩目的中国企业上市之一奠定了基础。2025年，这家AI新贵展示出能以硅谷领军者模型成本的一小部分与之竞争的能力，引发全球市场1万亿美元的市值蒸发，但它从未拥有过美国前沿实验室那样的财力。
DeepSeek’s funding sets the stage for one of the most highly anticipated Chinese market debuts in years. The AI upstart triggered a $1 trillion meltdown in global markets in 2025 when it showed the ability to compete with Silicon Valley’s leaders at a fraction of the cost of their models, but it’s never had the financial resources of the US frontier labs.
最新融资显示，这种失衡开始有所缓解，尽管其财力仍远不及Anthropic和OpenAI，后两者各自融资均超过1000亿美元。彭博新闻社曾报道，与竞争对手月之暗面一样，深度求索正在为首次公开募股（IPO）做准备，这将成为中国资本市场的一个重要里程碑。
The latest fundraising shows that imbalance is beginning to moderate, although it still has far less financial firepower than Anthropic and OpenAI, which have each raised more than $100 billion. Like rival Moonshot, DeepSeek is preparing for an initial public offering that would be an important milestone for Chinese markets, Bloomberg News has reported.
深度求索已开始更积极地投入资金，建设AI数据中心，并开发更多供国内外使用的开源模型。
DeepSeek has begun to spend more aggressively to build out AI data centers and to develop more open-source models for use in China and abroad.
该公司定期推出高性能、低成本模型，给国内竞争对手施加压力，并在美国及其他海外市场赢得客户。例如，去年9月发布V4.1 Flash版本，引发国内竞争对手MiniMax Group Inc.和Z.AI Co.股价下跌。深度求索、腾讯和宁德时代代表未回复通过电子邮件发出的置评请求。
The firm has regularly rolled out high-performance, low-cost models that put pressure on its domestic competitors and gained customers in the US and other overseas markets. In September, for example, it dropped V4.1 Flash, setting off a drop in the share prices of local rivals MiniMax Group Inc. and Z.AI Co. DeepSeek, Tencent and CATL representatives didn’t respond to emailed requests for comment.
更广泛地说，从阿里巴巴集团控股有限公司到字节跳动有限公司等企业都推出了低成本 AI 服务，这些服务通常是开源的，以便客户根据需要进行修改。
More broadly, companies from Alibaba Group Holding Ltd. to ByteDance Ltd. have introduced low-cost AI services, typically open-sourced so customers can modify them as needed.
人工分析公司发布的一份广泛流传的基准测试图表勾勒出了所谓的“DeepSeek 死亡区”，如果竞争对手无法超越该公司的性能，或者无法提供更低的价格，将难以生存。
One widely shared benchmark chart from Artificial Analysis sketched out what has been called the “DeepSeek death zone,” where competitors will struggle to survive if they can’t beat the firm’s performance or they can’t charge lower prices.