Reportedly: DeepSeek finalizes at least RMB 80B round with Tencent and CATL
Reported by Zhidongxi · not yet confirmed by the company or a second independent outlet. We update this page when it is.
DeepSeek is close to finalizing a new funding round of at least RMB 80 billion, with Tencent and CATL among the largest committed investors, Zhidongxi reported citing Bloomberg. The final total could approach RMB 100 billion, paving the way for a planned IPO in early 2027.
China context
- Original name
- 深度求索
- Outside China
- Not stated in the sources yet
- Claims
- Company-reported; not yet independently evaluated
- For investors
- The reported round would give DeepSeek significantly more capital than previously expected, potentially affecting valuations and funding availability for other Chinese AI startups.
Translated from Chinese. Quotes and facts link to the original sources.
Zhidongxi reported on October 6, 2026, citing Bloomberg, that DeepSeek is nearing completion of a funding round of at least RMB 80 billion, with Tencent and CATL among the largest committed investors. The final total could approach RMB 100 billion, exceeding the initial target of about RMB 50 billion due to strong market response to its latest model. The round is intended to pave the way for an IPO planned for early 2027. Separately, Moonshot AI has completed its final private funding round at a valuation of about $50 billion and is preparing for a Hong Kong IPO in Q1 2027. DeepSeek has engaged CITIC Securities for a planned IPO on the Shanghai STAR Market, with annualized revenue reportedly reaching $1 billion.
The evidence does not include technical details about DeepSeek's models or infrastructure. The reported funding round is attributed to market response to its latest model, but no model specifications or benchmark results are provided.
DeepSeek's reported RMB 80 billion round would give it substantially more capital than previously expected, potentially intensifying competition for AI talent and compute in China and altering the funding landscape for other Chinese AI startups.
If completed, the round would provide DeepSeek with significant capital for model development and expansion ahead of its planned IPO, while Tencent and CATL would gain strategic stakes in a leading Chinese AI company.
The next verifiable signals are the official announcement of the funding round terms and any IPO filing with the Shanghai Stock Exchange. Investors should also watch for Moonshot AI's Hong Kong IPO prospectus in early 2027.