DeepSeek set to raise at least 80 billion yuan in Tencent and CATL-backed funding round
Chinese AI startup DeepSeek is close to securing at least 80 billion yuan in a new funding round backed by Tencent and CATL, according to Bloomberg News. Investor demand exceeded its initial target of 50 billion yuan after the successful launch of its latest AI model, with the final tally potentiall
Chinese artificial-intelligence startup DeepSeek is close to securing at least 80 billion yuan (HK$93.64 billion) in its latest funding round, Bloomberg News reported on Tuesday, citing people familiar with the matter. The initial target was about 50 billion yuan, but investor demand exceeded expectations following the successful launch of DeepSeek's latest AI model, and the final tally could approach 100 billion yuan, according to Bloomberg News.
Chinese battery maker CATL and technology conglomerate Tencent have committed among the largest amounts in the current round, the report said. DeepSeek, Tencent and CATL did not immediately respond to Reuters' requests for comment. Reuters could not independently verify the report.
DeepSeek last month released its latest model, DeepSeek-V4.1-Flash, which the company said was designed for greater capability, faster inference, higher throughput and the ability to scale to larger models. The startup also recently partnered with Huawei Technologies to develop programming tools optimised for Huawei's Ascend AI chips, highlighting China's push to reduce reliance on Nvidia's AI ecosystem.
Reuters reported last month that DeepSeek had hired CITIC Securities to prepare for a potential initial public offering on the STAR Market, though the timing, valuation and fundraising size remain undecided.