DeepSeek prepares China IPO and targets $71 billion valuation

Chinese artificial‑intelligence startup DeepSeek, founded in 2023 by Liang Wenfeng, closed its first external funding round in June 2026, raising over $7 billion and valuing the company at about $50 billion. Within weeks the lab began talks on a second round that could bring in roughly $1.5 billion at a pre‑money valuation of around $71 billion, a 40 % jump.

DeepSeek has also started the paperwork for an initial public offering on the Chinese mainland, aiming to file either at the end of 2026 or early 2027. The IPO would likely be an A‑share listing, though a dual or Hong‑Kong listing has also been mentioned. The company is using the fresh capital to expand its own data centres, purchase AI chips (including Huawei‑made silicon) and hire more talent to support its aggressive expansion plan.

Liang Wenfeng’s personal stake, now about 78 % after the June round, was re‑valued by Bloomberg at roughly $36 billion, making him the wealthiest founder of an AI‑focused company worldwide. DeepSeek’s annualised revenue run‑rate is reported at $400‑$500 million, and its open‑source models continue to capture a significant share of enterprise AI workloads.