DeepSeek nears $12B+ funding round led by Tencent and CATL ahead of an early-2027 IPO (Bloomberg)
Bloomberg reported on Oct 6, 2026 that DeepSeek is close to raising at least RMB 80B (~$12B), possibly up to ~$14.9B, with Tencent and CATL among the largest investors, ahead of an IPO planned for early 2027. It would be DeepSeek's first major outside funding.
Key facts
- Size: at least ~RMB 80B (~$12B), up from an earlier ~RMB 50B target; could approach ~RMB 100B (~$14.9B) (Bloomberg, unconfirmed by DeepSeek)
- Biggest contributors reportedly Tencent and CATL
- IPO targeted for early 2027
What happened
According to people familiar with the matter (Bloomberg), DeepSeek is close to closing a round of at least ~$12B. Demand rose after its latest model, and Tencent and CATL are among the largest investors. An IPO is planned for early 2027. DeepSeek had not confirmed the round when this entry was written.
Why it matters
DeepSeek had been funded by its parent, High-Flyer. A raise of this size, with China's largest tech and battery companies, would make it one of the best-funded labs outside the US.
Changelog
- 2026-10-06: created
Related events
- DeepSeek V4.1 Pro enters gray testing as reports say DeepSeek is training a 2T model and planning an 8T one on Huawei chips ★★★
- Moonshot AI reportedly valued at $50B after final private round, eyes early-2027 Hong Kong IPO; Kling also picks IPO banks ★★★
Sources (2)
- pressBloomberg: China's AI champions raise billions ahead of IPOs
- pressInvesting.com: DeepSeek set to raise at least $12 bln in Tencent, CATL-led round (Bloomberg)
id: 2026-10-06-deepseek-12b-funding-round · updated 2026-10-06 · open in the interactive timeline