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Jessica Sier
AArtificial intelligence

DeepSeek’s $US15b funding frenzy fuels China’s AI arms race

  • October 24, 2026

Tokyo | In China’s technology hub Hangzhou, investors are quite literally pouring into the city, hoping for a slice of home-grown AI champion DeepSeek.

Around the world, the AI trade is wobbling amid investor concerns over the rapid pace of debt-fuelled spending on the cutting-edge technology. US labs such as OpenAI and Anthropic are pushing to raise eye-watering levels of funding before going public.

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