DeepSeek set to net over $12 billion in new fundraising, source says
DeepSeek is set to raise more than 80 billion yuan ($11.93 billion), exceeding its original 50 billion yuan target, as it builds capital ahead of a domestic IPO.
1. Fundraising exceeds target
DeepSeek’s latest funding round is set to raise more than 80 billion yuan ($11.93 billion), exceeding its original target of 50 billion yuan. The fundraising began in July with a target valuation of 500 billion yuan ($74 billion), and is expected to wrap up in October.
2. Investors and IPO plans
The round has drawn interest from existing and new investors. CATL and Tencent have committed amounts among the largest in the round. DeepSeek has hired CITIC Securities to prepare for a potential STAR Market IPO, though its timing, valuation and fundraising size remain undecided.
