DeepSeek is close to completing a new fundraising round expected to total at least RMB 80 billion, or about $12 billion, according to the report cited by Odaily. That figure is well above the company’s earlier target of roughly RMB 50 billion. People familiar with the matter said Tencent Holdings and Contemporary Amperex Technology Co. Limited, better known as CATL, have committed sizable amounts to the round, which is expected to close soon. The report added that stronger market demand and investor interest following the release of DeepSeek’s latest AI model helped push the financing beyond the initial target, and the final amount could approach RMB 100 billion. DeepSeek has drawn attention for its low-cost, high-performance AI models and is said to be directing funds toward computing infrastructure, model development and team expansion. Bloomberg Línea previously reported that the company is planning an initial public offering in early 2027, and the latest financing would support growth ahead of that listing.
DeepSeek is nearing completion of a new fundraising round expected to reach at least RMB 80 billion, or about $12 billion, according to the report carried by Odaily. The figure is far above the company’s earlier fundraising target of about RMB 50 billion.
People familiar with the matter said Tencent Holdings and Contemporary Amperex Technology Co. Limited (CATL) have committed sizable amounts to the round, and the financing deal is expected to be completed soon.
Round size rose above the original target
The report said market demand and investor interest climbed sharply after the release of DeepSeek’s latest AI model, pushing the fundraising beyond earlier expectations. The final amount could even come close to RMB 100 billion.
DeepSeek had previously been seeking about RMB 50 billion. Investor interest in the company’s AI technology progress then drove the round to a larger size.
Use of proceeds and IPO plan
DeepSeek had already attracted attention from institutions including Tencent and CATL, and plans to use the financing to expand computing infrastructure, AI model research and development, and team building.
Bloomberg Línea previously reported that DeepSeek is planning an initial public offering in early 2027. The large fundraising round would provide capital to support the company’s development before the listing.
DeepSeek has gained global attention for low-cost, high-performance AI models and is now increasing investment in next-generation AI technology and computing resources.
The report cited Bloomberg as the source.
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