DeepSeek, the Hangzhou-based AI startup behind the open-source DeepSeek models, completed its first external funding round on June 16, 2026. The round raised approximately 51 billion yuan ($7 billion) at a valuation of nearly 400 billion yuan ($55 billion). Investors include founder Liang Wenfeng, Tencent, CATL, NetEase, JD.com, Monolith Management, IDG Capital, Zhenge Valley Investment, Shixiang Technology, and the National AI Industry Investment Fund. Liang Wenfeng structured the deal so that most external investors contribute through limited partnerships he manages, with a five-year lock-up and no voting rights; only the National AI Industry Fund receives direct equity and voting rights. Previously funded solely by High-Flyer Quant, DeepSeek plans to use the proceeds for AI infrastructure expansion, R&D, employee equity incentives, and accelerating commercialization.
On June 17, 2026, China’s State Administration for Market Regulation (SAMR) issued a draft regulation titled “Ten Guidelines on Subsidy Behavior of Food Delivery Platforms” for public comment. Meituan was the first to respond, stating it firmly supports the regulation and will implement its requirements. Taobao Flash Purchase and JD Waimai subsequently declared their support, pledging to uphold a fair and orderly market environment. JD Waimai specifically committed to standardizing subsidy practices, rejecting vicious low-price competition, and advancing high-quality development through supply chain innovations and technologies like “AI + kitchen live streaming” and a dine-in judge system.
Samsung Electronics' DX division, which oversees mobile, TV, and smart devices, is under intense cost pressure and has completed a strategic review. To reduce costs, the division plans to concentrate on high-end Bespoke appliances and may outsource manufacturing of low-value home appliances to third-party ODM or OEM partners. Samsung has already exited the Chinese TV and home appliance sales market entirely. The move signals a strategic shift away from the company's traditional vertical integration model, freeing resources for software and AI development.