The Pulse
DeepSeek Nears at Least 80 Billion Yuan in Funding Ahead of IPO
DeepSeek is close to securing at least 80 billion yuan in new funding, exceeding its initial target of about 50 billion yuan as it prepares for a planned early 2027 IPO. Bloomberg reports that Tencent and CATL are among the largest backers,
AI.info Team · Written with AI ·
A Funding Round Above Its Initial Target
DeepSeek is close to securing at least 80 billion yuan ($12 billion) in its latest funding round, exceeding the roughly 50 billion yuan it initially sought, Bloomberg reported on October 6, 2026. The financing is nearing completion, but it has not closed, and the final amount could still change.
People familiar with the matter told Bloomberg that interest surpassed expectations after the release of DeepSeek’s latest AI model. Based on signed term sheets, the final tally could approach 100 billion yuan. That figure is a possibility, not a completed raise, and the people cited by Bloomberg asked not to be named because the details are not public.
Tencent and CATL Are Among the Largest Backers
Battery maker Contemporary Amperex Technology Co. Ltd., known as CATL, and Tencent Holdings Ltd. have committed among the largest amounts in the current round, according to Bloomberg. The report does not specify their individual commitments or identify the other investors.
The reported terms have not been confirmed by DeepSeek or the investors. Bloomberg said a CATL representative declined to comment, Tencent had no immediate comment, and DeepSeek did not respond to an emailed request during a Chinese public holiday. The reported amounts and investor lineup are based on people familiar with the talks, not a public announcement by the company.
Tencent also made the largest investment in DeepSeek’s previous round, contributing 10 billion yuan, Bloomberg reported. The company aims to integrate AI into its platforms, while CATL may be looking at opportunities to supply components to the AI industry, including for data centers, according to the report.
Early 2027 IPO Plans
The financing comes ahead of a planned initial public offering in early 2027. DeepSeek’s original valuation target for the current financing was about 500 billion yuan, Bloomberg reported; it did not say whether that target has changed. Once the round closes, DeepSeek is expected to restructure in preparation for an IPO, according to people familiar with the plan.
The funding is drawing attention as DeepSeek is among the companies central to China’s effort to compete globally in AI, Bloomberg reported. The company developed as an offshoot of founder Liang Wenfeng’s hedge fund, High-Flyer, which provided much of its early support. Liang also contributed to the previous 50-billion-yuan round, which valued DeepSeek at roughly 350 billion yuan, the report said.
Terms Remain Subject to Change
Bloomberg’s sources described discussions around the current deal as nearing an end, while cautioning that details could still change in final talks. The reported minimum of 80 billion yuan and the potential to approach 100 billion yuan therefore remain estimates until the financing closes. That close would establish how much DeepSeek actually raises before its expected restructuring and IPO preparations.