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[BUSINESS] · China · 23 sources

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DeepSeek nears $12 billion funding round ahead of 2027 IPO

DeepSeek is nearing the completion of a massive funding round, expected to raise at least 80 billion yuan (approximately $12 billion). Investor interest has significantly exceeded the company’s initial 50 billion yuan target, with total commitments potentially reaching 100 billion yuan. Major participants in the round include Tencent Holdings and battery manufacturer CATL.

The surge in demand follows the successful release of the DeepSeek-V4.1-Flash model, which has gained attention for its performance-to-cost efficiency. The capital injection is intended to bolster the company’s computing infrastructure. DeepSeek plans to deploy at least 160,000 Huawei Ascend AI accelerators at a new data center in Inner Mongolia, a move seen as part of China’s effort to reduce reliance on Nvidia.

This funding serves as a precursor to a planned initial public offering (IPO) in early 2027. DeepSeek has reportedly engaged CITIC Securities to prepare for a potential listing on the STAR Market in Shanghai.

Entities

CATL · DeepSeek · Huawei Technologies · Liang Wenfeng · Tencent Holdings

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