DeepSeek Nears $12B Round With Tencent, CATL Before 2027 IPO
TL;DR
- DeepSeek is close to securing at least 80 billion yuan, roughly $12 billion, from a round in which Tencent and CATL are among the largest backers.
- The lab originally sought about 50 billion yuan; based on signed term sheets, the final tally could approach 100 billion yuan.
- The capital is positioned as pre-IPO funding for a planned listing in early 2027, aimed at compute, model development, and hiring.
DeepSeek is close to securing at least 80 billion yuan, or roughly $12 billion, in a funding round with Tencent Holdings and battery pioneer CATL among the largest contributors, Bloomberg reported. The lab had originally sought about 50 billion yuan; based on term sheets already signed, the final tally could approach 100 billion yuan.
Bloomberg frames the round as pre-IPO capital for a planned listing in early 2027, with proceeds pointed at computing infrastructure expansion, AI model development, and team growth. Investor interest, the outlet says, outstripped expectations after the successful release of DeepSeek's latest AI model.
The scale of the commitment, according to Bloomberg's reporting, signals that DeepSeek can tap deep pools of capital while China races to build more of the AI supply chain at home.
It is also the second major Chinese AI lab in two days on our radar to telegraph a 2027 listing, following Moonshot AI closing its final private round at $50 billion and pointing to a Hong Kong IPO of up to $5 billion in the first quarter of that year.
Originally reported by bloomberg.com
Read the original article →Original headline: DeepSeek Close to $12B Pre-IPO Round With Tencent and CATL as Lead Backers, Eyes Early-2027 Listing