It is reported that DeepSeek is about to complete at least 80 billion yuan in financing, with Tencent and CATL leading the investment

Abstract:

On October 6, according to Bloomberg, DeepSeek was close to locking in at least

80 billion yuan (approximately US$12 billion) in the latest round of financing

The funding, far exceeding its own targets, paves the way for a potential blockbuster initial public offering (IPO) in early 2027.

DeepSeek

Informed sources said that DeepSeek’s current round of financing is about to be completed.

CATL and Tencent Holdings are among the investors that have committed the highest amount of capital

. DeepSeek initially sought about 50 billion yuan in financing, but after the successful release of its latest AI model, market interest exceeded expectations. Based on the signed term sheet, DeepSeek’s final funding total could be close to 100 billion yuan, these people added.

DeepSeek’s round of financing lays the foundation for one of the most anticipated IPOs in the Chinese market in recent years, as the company is gaining momentum after releasing its V4 Flash model. This model allows the outside world to re-understand the cost-effectiveness of the DeepSeek model compared to the Anthropic and OpenAI models. Dark Side of the Moon also plans to go public in early 2027 after completing the last round of private equity financing before the IPO at a valuation of US$50 billion.

While negotiations on this round of financing are nearing completion, specific details may still change during final negotiations, people familiar with the matter said. DeepSeek’s initial target valuation in this round of financing was approximately 500 billion yuan.

DeepSeek has attracted huge interest from potential investors because it is one of the core Chinese companies participating in the global AI competition. People familiar with the matter said that after the completion of this round of financing, DeepSeek’s next step should be to restructure the company and prepare for an IPO.

Tencent had become DeepSeek’s largest investor with 10 billion yuan in a previous round of financing. The company hopes to integrate AI into its various platforms. CATL may be eyeing an increasingly profitable business, which is supplying components to the AI ​​industry, including data centers.

As of press time, representatives from CATL declined to comment, and Tencent did not immediately respond. DeepSeek did not respond to a request for comment.