DeepSeek is close to securing at least 80 billion yuan, or about $12 billion, in its latest funding round, Bloomberg reported, citing people familiar with the matter. The raise would exceed the Chinese AI company’s earlier funding target and comes ahead of a possible initial public offering in early 2027.
Who Is Backing the Round
Battery maker Contemporary Amperex Technology (CATL) and Tencent Holdings are among the largest investors in the current round, according to Bloomberg. The final size and terms could still change, the people familiar with the matter said.
How It Compares With the Last Round
This round follows DeepSeek’s first major external funding earlier this year. In June, Reuters reported that the company was on track to raise about 50 billion yuan, or $7.4 billion, with Tencent and CATL among the investors. That round valued DeepSeek at between 350 billion yuan ($52 billion) and 400 billion yuan ($60 billion), according to Reuters.
Until then, the company had relied largely on High-Flyer, the quantitative investment firm run by founder Liang Wenfeng, to finance its operations. The jump to outside capital marks a clear change in how DeepSeek funds its growth.
The IPO Plan
DeepSeek is preparing for a market debut in early 2027. Reuters reported separately in September that the company had hired CITIC Securities to prepare for a possible listing on Shanghai’s technology-focused STAR Market. The timing, size, and valuation of the offering have not been decided.
