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DeepSeek Plans February Launch of Coding-Focused AI Model V4, Report Says

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Chinese artificial intelligence startup DeepSeek is expected to launch its next-generation AI model, V4, in mid-February, with a strong focus on coding capabilities, The Information reported on Friday, citing people familiar with the matter.

According to the report, internal testing by DeepSeek employees indicates that the V4 model could outperform leading rivals such as Anthropic’s Claude and OpenAI’s GPT series in software development and coding-related tasks. The model is also said to show major improvements in handling extremely long and complex coding prompts, a feature that could give developers an edge when working on large-scale or intricate software projects.

Reuters was not able to independently verify the report, and DeepSeek did not immediately respond to a request for comment.

Based in Hangzhou, DeepSeek has rapidly emerged as a prominent player in China’s drive to build a domestic AI ecosystem and reduce reliance on foreign technology. The company attracted international attention after several Silicon Valley executives publicly praised its earlier models, including DeepSeek-V3 and DeepSeek-R1, for their performance and cost efficiency.

In January, Reuters reported that DeepSeek claimed to have developed a low-cost rival to ChatGPT, further boosting its profile in the global AI race. However, the company has also faced scrutiny in some countries over concerns related to data security and privacy practices, highlighting the growing regulatory attention surrounding advanced AI systems.

Pony.ai Shares Fall 12% in Hong Kong Debut as Autonomous Rivals WeRide Also Slide

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China’s leading autonomous driving startup Pony.ai saw its shares drop more than 12% on Thursday in its Hong Kong debut, while rival WeRide fell nearly 13%, reflecting investor caution toward the fast-evolving self-driving sector.

Pony.ai raised HK$6.71 billion (about $860 million) and WeRide HK$2.39 billion through their initial public offerings, both of which come as Chinese tech firms increasingly seek dual listings in Hong Kong amid geopolitical uncertainty and stricter U.S. regulations.

Both Guangzhou-based firms are investing heavily in Level 4 autonomous driving — vehicles that can operate without human intervention under specific conditions. Pony.ai CEO James Peng said proceeds would help expand autonomous parking and charging infrastructure, while WeRide’s CEO Tony Xu Han said funds would support AI development and data center expansion.

The companies have already launched robotaxi services in several Chinese cities and plan to expand to new regions including the Middle East, Europe, and Singapore, though full regulatory approvals remain pending.

The listings come at a delicate time for Chinese tech firms facing mounting U.S. restrictions. A new rule effectively bans Chinese technology in connected vehicles, complicating Pony.ai and WeRide’s ambitions to partner with Uber for robotaxi operations in the U.S.

“The dual listings are about risk mitigation,” said Tu Le, managing director at Sino Auto Insights. “They acknowledge it will take significant capital — and a market outside the U.S. — for these firms to succeed.”

The weak debut mirrored declines in New York, where WeRide shares dropped 5.2% and Pony.ai fell 2% the previous day. Still, analysts said the Hong Kong listings will help both companies secure Asia-based funding and reinforce the city’s growing image as a tech hub.

China’s WeRide Aims to Raise $308 Million in Hong Kong Listing Amid Autonomous Driving Boom

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Chinese self-driving technology company WeRide plans to raise about $308 million through a Hong Kong stock market listing, according to a Bloomberg report on Tuesday. The Guangzhou-based firm is expected to price its shares at HK$27.10 each, valuing the offering at HK$2.39 billion.

WeRide, which went public on Nasdaq in October 2024, is selling 88.3 million shares, with a maximum price of HK$35 per share, according to its prospectus filed on October 27. The offering is led by Morgan Stanley and China International Capital Corp (CICC), which were also involved in the company’s U.S. listing.

The move comes as growing investor enthusiasm for next-generation mobility companies fuels renewed interest in autonomous driving technologies. At the same time, many U.S.-listed Chinese firms are pursuing dual or secondary listings in Hong Kong to diversify funding sources and hedge against geopolitical and regulatory risks linked to U.S.-China tensions.

Founded in 2017, WeRide develops autonomous vehicle systems and operates robotaxi services in China and abroad. The company’s Hong Kong debut follows rival Pony AI, which set the final price for its own Hong Kong listing at HK$139 per share this week.

WeRide declined to comment on its final offer price when contacted by Reuters.