DeepSeek reportedly close to raising at least $12 billion in Tencent-backed funding
DeepSeek is reportedly close to securing at least 80 billion yuan ($11.93 billion) in funding, with Tencent and CATL among the largest investors. The final total could approach 100 billion yuan, the report said.
1. Funding round
DeepSeek initially sought about 50 billion yuan, but investor demand exceeded expectations after the launch of its latest AI model. Tencent Holdings and Chinese battery maker CATL have committed among the largest amounts in the round, and the final tally could approach 100 billion yuan.
2. Company developments
DeepSeek recently partnered with Huawei Technologies to develop programming tools optimized for Huawei's Ascend AI chips. Last month, it released DeepSeek-V4.1-Flash, which it said was designed for greater capability, faster inference, higher throughput and scaling to larger models. DeepSeek has hired CITIC Securities to prepare for a potential STAR Market IPO, though its timing, valuation and fundraising size remain undecided.
