DeepSeek’s funding round could approach $15 billion as investor demand surges
The Chinese AI company is close to raising at least $12 billion, Bloomberg reports, in a round that could nearly double its original target.
DeepSeek, the Chinese artificial intelligence startup that became one of the most closely watched companies in the global AI race, is close to securing at least 80 billion yuan ($11.93 billion) in its latest funding round, Bloomberg News reported Tuesday, citing people familiar with the matter.
The round could ultimately approach 100 billion yuan ($14.91B), according to the repost after investor demand exceeded the company’s expectations. DeepSeek had initially sought approximately 50 billion yuan ($7.46 billion), but interest surged following the launch of its latest AI model.
The scale of the financing would represent a striking escalation for a company that has attracted global attention in part because of its focus on building powerful AI systems with greater efficiency.
Among the largest investors in the current round are Chinese battery maker CATL and technology giant Tencent Holdings, according to Bloomberg. DeepSeek, Tencent and CATL did not immediately respond to Reuters requests for comment.
The reported fundraising also comes as DeepSeek is becoming more deeply integrated into China’s effort to build an AI ecosystem less dependent on U.S. technology.
In September, DeepSeek released its latest model, DeepSeek-V4.1-Flash, which it said was designed to offer greater capability, faster inference, higher throughput and the ability to scale to larger models. The launch appears to have been a key catalyst for the current fundraising.
Only days later, DeepSeek partnered with Huawei Technologies to develop programming tools optimized for Huawei’s Ascend AI chips. The partnership underscores a broader effort in China to reduce reliance on Nvidia’s AI ecosystem, while giving DeepSeek a role in developing software that can run on domestic AI hardware.
That relationship could become increasingly important as DeepSeek raises capital on a scale that puts it among the most heavily funded private AI companies.
The latest funding comes alongside preparations for another potential source of capital. DeepSeek has hired CITIC Securities to prepare for a possible initial public offering on Shanghai’s STAR Market, Reuters reported last month.
The timing, valuation and size of any IPO have not yet been decided. But the reported funding round could provide an important bridge as DeepSeek considers the next stage of its development.
