Report: DeepSeek completes about 100 billion yuan financing, with Tencent and CATL participating
According to Bloomberg, DeepSeek raised about 100 billion yuan (about 15 billion US dollars) in a new round of financing; the financing target was raised twice from an initial 50 billion yuan to 80 billion yuan and finally to 100 billion yuan, with CATL and Tencent among the largest investors. The report said this round of financing paves the way for its future listing; DeepSeek is preparing for an IPO and increasing investment in AI data centers and open-source models. As of publication, DeepSeek, Tencent and CATL had not responded to requests for comment.
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The financing target was raised twice to 100 billion yuan, with investors including Tencent and CATL and IPO preparation background given, which can be used to observe DeepSeek's funding and competitive position.
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Report: DeepSeek Has Raised 100 Billion Yuan: Target Raised Twice, Tencent and CATL Invested
Phoenix Tech Download the App | Exclusive First Look October 22, 2026, 10:42:14 From Beijing Updated October 22, 2026, 11:04:53
According to Bloomberg, DeepSeek has raised about 100 billion yuan in a new funding round, one of the largest in China. People familiar with the matter said the funding target was raised at least twice, ultimately reaching 100 billion yuan, with major investors including CATL and Tencent.
DeepSeek
Phoenix Tech News, October 22 (Beijing Time): According to Bloomberg, DeepSeek has raised about 100 billion yuan (approximately $15 billion) in its latest funding round, one of the largest financings ever in China, and a sign of the startup's ambition to compete globally with companies such as Anthropic and OpenAI.
According to people familiar with the matter, during negotiations with investors, DeepSeek raised its funding target at least twice, from an initial 50 billion yuan to 80 billion yuan, with the final amount reaching 100 billion yuan. CATL and Tencent are among the largest investors in this round.
This funding round paves the way for DeepSeek's future listing, which is expected to be one of the most anticipated IPOs in the Chinese market in years. In 2025, DeepSeek demonstrated the ability to compete with leading Silicon Valley companies at a model development cost far lower than theirs, triggering turmoil in global stock markets and wiping out $1 trillion in market value. However, DeepSeek's financial strength has not been comparable to that of leading US AI labs.
The latest funding round shows that this gap in financial strength is beginning to narrow. Still, DeepSeek's financial strength remains below that of Anthropic and OpenAI, each of which has raised more than $100 billion. Bloomberg previously reported that, like rival Moonshot AI, DeepSeek is preparing for an initial public offering (IPO). The listing will be an important milestone for the Chinese market.
DeepSeek has begun investing more aggressively in building AI data centers and developing more open-source models for use in China and overseas. The company regularly releases high-performance, low-cost models, putting pressure on domestic competitors and winning customers in the United States and other overseas markets. For example, in September this year, it released V4.1 Flash, which sent shares of domestic rivals MiniMax and Zhipu lower.
The AI analysis firm Artificial Analysis once published a widely circulated benchmark chart that outlined the so-called "DeepSeek death zone": if competitors cannot surpass DeepSeek in performance or offer lower prices, they will struggle to survive.
As of publication time, representatives of DeepSeek, Tencent and CATL had not responded to requests for comment. (Author/Xiaoyu)
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