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China tech startups race to capitalise on DeepSeek fever

China tech startups race to capitalise on DeepSeek fever

FILE PHOTO: The Deepseek app is seen in this illustration taken on January 29, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Chinese technology startups are racing for fresh fundraising to capitalise on the DeepSeek-induced fervor towards artificial intelligence, as well as President Xi Jinping’s recent show of support to the country’s private enterprises.