Reportedly: DeepSeek raises about RMB 100 billion in latest funding round
Reported by IT Home and Zhidongxi · not yet confirmed by the company or a second independent outlet. We update this page when it is.
DeepSeek is raising about RMB 100 billion (approx. $15 billion) in its second funding round, IT Home reported. The round's target grew from RMB 50 billion to RMB 80 billion and then to RMB 100 billion, with CATL and Tencent among the largest investors.
China context
- Original name
- 深度求索
- Outside China
- Not stated in the sources yet
- Claims
- Company-reported; not yet independently evaluated
- For builders
- If the funding is confirmed, DeepSeek may accelerate open-weight model releases and infrastructure improvements, potentially affecting API pricing and model availability for developers outside China.
- For investors
- The reported round values DeepSeek at about RMB 500 billion pre-money, and an IPO could provide a benchmark for Chinese AI valuations. Investors should verify the final terms and any regulatory approvals.
Translated from Chinese. Quotes and facts link to the original sources.
DeepSeek, the Chinese AI startup, is reportedly completing a second funding round of about RMB 100 billion (approx. $15 billion), according to media reports citing people familiar with the matter. The round's target was raised at least twice from an initial RMB 50 billion to RMB 80 billion and finally to about RMB 100 billion. CATL and Tencent are among the largest investors, with CATL increasing its investment to about RMB 10 billion from RMB 5 billion in the first round. New investors include Stonebrook Capital, CPE Yuanfeng, Legend Capital, and Geely. The funding is expected to support DeepSeek's IPO preparations, with CITIC Securities hired as advisor and a possible Shanghai listing early next year. DeepSeek's pre-money valuation remains about RMB 500 billion (approx. $74 billion).
The evidence does not include technical details about DeepSeek's models or infrastructure. The funding is intended for model training, compute infrastructure, and talent acquisition, but no specific technical milestones are confirmed.
DeepSeek's reported RMB 100 billion round narrows the capital gap with US AI labs like OpenAI and Anthropic, giving it more resources for compute and model development. Investors outside China should monitor whether this accelerates DeepSeek's open-weight releases and overseas API expansion.
The funding provides DeepSeek with capital to expand AI data centers, develop open-source models for China and overseas markets, and prepare for an IPO. For competitors, it raises the stakes in the Chinese AI market.
Watch for DeepSeek's official announcement of the funding round and any IPO filing with the Shanghai Stock Exchange. A specific signal is whether DeepSeek's next model release shows improved performance or lower cost after the capital infusion.