DeepSeek nears $11.93 billion funding round backed by Tencent
In short
DeepSeek is close to raising at least 80 billion yuan, or $11.93 billion, in a new funding round. The reports say Tencent and CATL are backing the Chinese AI startup, and that it may be aiming for a 2027 IPO.
The company is also said to plan heavy spending on Huawei AI chips. It is still not clear if the deal is final or how the money will be structured.
What the reporting says
DeepSeek is close to securing at least 80 billion yuan, or $11.93 billion, in a new funding round, according to publisher summaries citing Bloomberg. The reports say the Chinese AI startup is backed by Tencent and CATL and that the round appears to exceed its target ahead of a planned 2027 IPO. The reporting also says the company plans major spending on Huawei AI chips, but final terms are not stated.
Why it matters
DeepSeek is reported to be nearing at least 80 billion yuan in new funding, with Tencent and CATL named as backers. The reporting says the round would surpass the startup’s target and comes ahead of a planned 2027 IPO. It also says the company plans large investment in Huawei AI chips. The immediate implication is more capital for expansion, but the final deal terms are still unknown.