DeepSeek's second funding round grows to about 100 billion yuan, pre-money valuation remains 500 billion yuan

DeepSeek's second funding round is planned to increase from 50 billion yuan to about 100 billion yuan, with the pre-money valuation still about 500 billion yuan, and new and old shareholders each planning to invest half. New investors are mainly industrial capital, including Shixi Capital, SMIC Capital, Geely, etc., and CATL plans to add about 10 billion yuan; a fund LP said the deal is still changing dynamically, and DeepSeek's PR department declined to comment on the funding information. The company has hired former Hillhouse Venture Capital partner Yan Wentao as CFO, and outsiders expect an IPO to potentially proceed in early 2027.