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According to Bloomberg, DeepSeek raised about 100 billion yuan (approximately 15 billion US dollars) in its latest funding round, with CATL and Tencent among the largest investors in this round. People familiar with the matter said that during its discussions with investors, DeepSeek raised its funding target at least twice, from an initial 50 billion yuan to 80 billion yuan, and ultimately to 100 billion yuan. Shanghai Securities News reported the same day that Tencent and CATL were the largest contributors in this round, with the deal expected to be formally completed within the next few days, though the final amount is still not fully determined; DeepSeek, Tencent and other relevant investors have not publicly responded. There is currently no subsequent development with evidence.
AI-generated from public reports
Latest development · Report
DeepSeek V4.1-Flash-1017 Tops OpenRouter Weekly Call Volume, Up 801% Week-over-WeekDevelopments
1 confirmed developments
Report: DeepSeek's new funding round raises about 100 billion yuan
Source:Phoenix Technology
Reports and discussion timeline
Browse reports and discussion by time. Their evidence levels remain distinct.
Oct 26
Sina Tech
DeepSeek V4.1-Flash-1017 Tops OpenRouter Weekly Call Volume, Up 801% Week-over-Week
OpenRouter's weekly rankings for October 19–25 show that DeepSeek's V4.1-Flash-1017, updated on October 17, topped the list with 33.6 trillion tokens in weekly call volume, up 801% week-over-week. This version continues the asymmetric MoE architecture with 552B total parameters, 8B input activation, and 16B output activation, with a focus on optimizing code, automated agents, and vision tasks; the previous V4.1 Flash recorded 18 trillion tokens in weekly call volume, down 45% week-over-week. Last week's global total call volume was 188 trillion tokens, up 14.63% week-over-week, and domestic Chinese models, at 93.54 trillion tokens, remained above US models for the twenty-sixth consecutive week.
36Kr · AI
DeepSeek's Hundred-Billion Financing and Zero AI Returns: Two Sides of Capital Frenzy
DeepSeek's new funding round overshot its 500 billion target to nearly 1 trillion, with a pre-money valuation of about 500 billion; Tencent and CATL led the investment, and two rounds within half a year have absorbed over 1.5 trillion in capital. The article also cites data from Apollo chief economist Torsten Slok stating that, excluding tech giants, AI's financial return to U.S. companies is zero, and the S&P 493's per-capita revenue, profit margin, and total factor productivity have all flatlined. Using the list of autonomous driving companies that exited from 2019 to 2026 as a reference, the author argues that general-purpose large models and embodied intelligence are repeating the same path, and notes that DeepSeek plans to build a data center in Ulanqab and deploy at least 160,000 Huawei Ascend chips for frontier model pre-training.
Huxiu
Behind DeepSeek's Hundred-Billion Financing: Zero AI Returns and Bubble Risk
DeepSeek's new funding round was oversubscribed from a 50 billion target to nearly 100 billion, with a pre-money valuation of about 500 billion; Tencent and CATL led the investment, and the company plans to deploy at least 160,000 Huawei Ascend chips in Ulanqab for domestic-compute pre-training. The author cites data from Apollo chief economist Torsten Slok stating that, excluding tech giants, the per-capita revenue, profit margin and productivity of S&P 493 companies have not risen due to AI, and that the top 10% of companies account for 99.5% of model serving and inference costs. The article also notes that about 42% of enterprise AI projects have been abandoned by their parent companies, that at least 25 domestic AI applications ceased operations in 2025, and, citing the exit of more than 40 autonomous driving companies between 2019 and 2026, warns that embodied intelligence may repeat the bubble.
The Elec
DeepSeek Nears Completion of Approximately 100 Billion Yuan Financing, Twice Its Initial Target
According to an October 22 report by Reuters, DeepSeek is nearing completion of approximately 100 billion yuan in financing, roughly twice its initial 50 billion yuan target. Fifteen Chinese companies including GigaDevice, Meituan, and Geely have joined existing investors such as CATL and Tencent. If the round closes at a pre-money valuation of 500 billion yuan, its post-money valuation could reach 600 billion yuan; final investment terms and valuation have not yet been determined.
Oct 25
Recode China AIFirst-party
China AI Weekly: DeepSeek's roughly $15 billion funding, Kimi K3.1 Pro release, and employment policy adjustments
The China AI Weekly Digest summarizes 306 China AI news items tracked from October 16 to 23, 2026. According to Reuters, DeepSeek's latest funding round raised about 100 billion yuan, with a pre-money valuation of 500 billion yuan; Tencent and CATL were the main investors. Moonshot AI released Kimi K3.1 Pro with a million-token context window and said the Highspeed version is two to three times faster. The General Office of the State Council issued AI employment policy guidelines, proposing 18 tasks covering new profession cultivation, AI training, and employment risk monitoring.
TMTPost · AGI
CATL earned a net profit of 21.2 billion yuan in a single quarter, yet fell nearly 15% in two days: what exactly is the AI rally killing?
CATL's third-quarter net profit attributable to shareholders was 21.246 billion yuan, up 14.54% year on year, below the lower bound of institutional forecasts. On October 21 its A-shares closed down 12.03%, and over two trading days they fell nearly 15% cumulatively, wiping about 140 billion yuan off its market value. This round of adjustment is weighing on valuations rather than already-realized earnings: the ChiNext Index's PE-TTM fell from about 54 times in June to about 32 times, while the STAR 50 dropped from about 264 times to above 110 times. Over the same period, equity ETFs saw net inflows for eight consecutive trading days, totaling 94.753 billion yuan as of October 14.
Oct 23
Zhi Dong Xi
Investors in DeepSeek's approximately RMB 100 billion second round of financing revealed: Meituan, Geely, NetEase and others on the list
Investors in DeepSeek's approximately RMB 100 billion second round of financing include GigaDevice, Meituan, Geely, Midea and existing shareholder NetEase, with more than 15 investors in total; CATL and Tencent are the largest investors. This round sets the record for the largest financing in China's AI industry, with DeepSeek valued at approximately USD 74 billion before the financing. DeepSeek has engaged CITIC Securities as its listing advisor, targeting a listing on the Shanghai Stock Exchange in early next year.
SiliconANGLE
AI investment is polarizing: a financing boom coexists with concerns over data center spending
AI investment is showing polarization: companies such as OpenAI, DeepSeek, Legora, and Otter.ai continued to secure large funding this week, with OpenAI nearing completion of a $30 billion bridge financing and DeepSeek reportedly raising $15 billion; however, Meta plans to issue additional shares to expand data centers, raising concerns about excessive spending, and AI stocks such as SpaceX and CoreWeave fell sharply on Thursday. Next week, earnings reports from Amazon, Alphabet, Microsoft, and Intel, as well as Anthropic's IPO, will further test market sentiment.
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East Money
Multiple A-share companies participate in DeepSeek's new round of hundred-billion-level financing
Securities Times reporters confirmed with multiple primary-market investors that DeepSeek completed about 100 billion yuan (15 billion US dollars) in financing, with the target raised from 80 billion yuan earlier to 100 billion yuan; existing shareholders CATL and Tencent Holdings participated as major investors, while IDG Capital, Lisi Capital and Shixiang Capital continued to follow on. A-share companies including Perfect World, Century Huatong and Litong Electronics invested indirectly through two special-purpose funds, Lisi Xingshen and Shixiang Shangshi, which are sized at 7.52 billion yuan and 3.65 billion yuan respectively. This is DeepSeek's second financing round following its first round of about 51 billion yuan in June this year, with a post-money valuation of about 500 billion yuan.
East MoneyRelated discussion
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Leiphone
DeepSeek completes nearly 100 billion yuan financing, with CATL and Tencent participating
DeepSeek raised approximately 100 billion yuan (about 15 billion USD) in its latest funding round, with CATL and Tencent among the main investors; the funding target was raised twice from an initial 50 billion yuan to 80 billion yuan. CEO Liang Wenfeng disclosed that DeepSeek's annualized revenue run rate has exceeded 1 billion USD, more than doubling from under 500 million USD a few months ago, and customers did not churn after API price increases.
36Kr · AI
CATL invests in DeepSeek, Liang Wenfeng helps Zeng Yuqun stabilize the capital market narrative
According to foreign media reports, DeepSeek's new funding round is about 100 billion yuan, with CATL as one of the main investors; the CATL system had previously invested about 5 billion yuan in DeepSeek's first funding round. The article argues that CATL's third-quarter net profit attributable to shareholders rose only 14.5% year-on-year, and its A-shares fell 12.03% the next day; investing in DeepSeek provided it with an AI narrative anchor. The CATL system has also invested in computing power and power supply-related targets such as Vianet and Zhongheng Electric, with the three disclosed or reported transactions totaling more than 15 billion yuan.
Sina TechRelated discussion
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China.com TechnologyRelated discussion
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X.PIN
DeepSeek's $15 billion financing will be used for a 1GW data center in Ulanqab, Inner Mongolia
According to 36Kr, DeepSeek's $15 billion financing will be used to build a 1GW data center in Ulanqab, Inner Mongolia, equipped with at least 160,000 Huawei Ascend 950DT chips. Ulanqab's low-cost renewable energy is key to controlling the facility's high operating costs. CATL added $1.4 billion in this round to establish its role as a supplier of complete energy solutions including energy storage, direct green power connection and grid interfaces.
East Money
A-Share Hotspot Outlook: Escalating Middle East Tensions Send Oil Prices Soaring; DeepSeek Set to Raise 100 Billion Yuan
DeepSeek's fundraising target for this round has been raised through multiple rounds from an initial 50 billion yuan to approximately 100 billion yuan. The funds will be used for model training, computing infrastructure, and talent recruitment. It has not yet been officially announced, and the final amount remains not fully determined. On October 22, Saudi Aramco's Shaybah oil field was attacked by drones, and both Brent and U.S. crude prices rose sharply. A domestic team released silicon-28 silane specialty gas and epitaxial wafers for the first time, with the chemical purity of the silicon-28 silane specialty gas reaching 99.99998%.
East Money
DeepSeek plans to raise about 100 billion yuan in a new funding round, with Tencent and CATL as the main investors
According to a report by Shanghai Securities News, market sources say DeepSeek plans to raise about 100 billion yuan (about 15 billion US dollars) in its latest funding round, with Tencent and CATL as the largest investors in this round, and the deal is expected to be officially completed within the next few days. Sources said the fundraising target was initially 50 billion yuan, then raised through multiple rounds to about 100 billion yuan; it has not yet been officially announced, and the final amount is still not fully determined. The funds will continue to be used for model training, computing power construction, and talent recruitment, and some sources believe this funding round will pave the way for the company's planned IPO on the STAR Market.
Oct 22
TechCrunch AI
DeepSeek reportedly raises about $15 billion two days after US restrictions take effect
According to Bloomberg, DeepSeek raised about $15 billion (approximately RMB 100 billion) two days after the US asked federal civilian agencies to remove its technology, with potential investors including CATL and Tencent. This is a new funding round following the more than $7 billion raised in June at a $50 billion valuation, and the report says the company is also advancing plans for a domestic IPO. The report notes that DeepSeek is increasing investment in AI infrastructure and open models while facing restrictions in the US.
YicaiSelected
Report: DeepSeek plans to raise about RMB 100 billion in a new funding round
According to Shanghai Securities News, DeepSeek plans to raise about RMB 100 billion (about USD 15 billion) in its latest funding round, with Tencent and CATL as the largest investors in this round, and the deal is expected to be officially completed within the next few days. Sources said the fundraising target was initially RMB 50 billion and was raised through multiple rounds to about RMB 100 billion; the final amount is still not fully determined, and the funds will be used for model training, computing power construction and talent recruitment. DeepSeek, Tencent and other relevant investors have not publicly responded. Yicai reporters confirmed after cross-verification that the report is accurate, and some sources believe this funding round will pave the way for the company's planned STAR Market IPO.
YicaiRelated discussion
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East Money
Sources say DeepSeek's new funding round aims to raise about 100 billion yuan, with Tencent and CATL leading
On October 22, market sources said that DeepSeek plans to raise about 100 billion yuan (about $15 billion) in its latest funding round, with Tencent and CATL as the largest investors in this round. The deal is expected to be officially completed within the next few days, and DeepSeek, Tencent, and other investors have not publicly responded. Sources said the fundraising target was initially 50 billion yuan and was raised multiple times to about 100 billion yuan; the final amount is still not fully determined, and the funds will continue to be used for model training, computing power construction, and talent recruitment. In June this year, DeepSeek completed its first funding round of about 51 billion yuan, of which Liang Wenfeng personally contributed about 20 billion yuan, Tencent about 10 billion yuan, and the CATL system about 5 billion yuan.
36Kr · AISelected
DeepSeek completes a new funding round of about 100 billion yuan and is preparing for a STAR Market IPO
Multiple media outlets, citing Bloomberg, reported that DeepSeek completed a new funding round of about 100 billion yuan, with CATL and Tencent as the main investors; the round initially targeted 50 billion yuan, was later raised to 80 billion yuan, and was ultimately finalized at 100 billion yuan. The previous Series A was launched in April 2026 and closed in June, raising about 51 billion yuan at a valuation of 340 billion yuan, with Liang Wenfeng personally contributing 20 billion yuan and still holding close to 100% of voting rights. The article also mentions that DeepSeek has hired CITIC Securities to prepare for a STAR Market IPO, planning to submit its application as early as late 2026, with a valuation of 500 billion yuan after this funding round.
36Kr · AISelected
DeepSeek's hundred-billion financing nears completion, allies with industrial capital including Perfect World and SMIC Capital and bets on embodied intelligence
According to Bloomberg, DeepSeek's second funding round is locked at about 100 billion yuan, with a pre-money valuation of about 500 billion yuan; the fundraising target was raised twice from the initial 50 billion yuan and then doubled. Existing shareholders Tencent and CATL each added about 10 billion yuan; new entrants include industrial capital such as Shixi Capital, SMIC Capital, CPE Yuanfeng, Legend Capital and Geely. Perfect World, Century Huatong and Litong Electronics participate indirectly through two special funds, Lisi Xingshen and Shixiang Shangshi; DeepSeek is also preparing for a STAR Market IPO and has already invested in embodied intelligence companies such as Unitree.
cnBeta
Report: DeepSeek raises 100 billion yuan, with Tencent and CATL participating
People familiar with the matter said that 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 funding amount reaching 100 billion yuan. CATL and Tencent were among the largest investors in this round. This round of funding paves the way for its future listing, but DeepSeek's financial strength still lags behind Anthropic and OpenAI, which have each raised more than $100 billion. DeepSeek has increased investment in AI data centers and released V4.1 Flash in September this year, triggering declines in the share prices of MiniMax and Zhipu.
Zhidongxi
Bloomberg says DeepSeek has completed about 100 billion yuan in financing, with CATL and Tencent participating
According to Bloomberg, DeepSeek raised about 100 billion yuan (approximately $15 billion) in its latest funding round, with CATL and Tencent among the largest investors in this round. People familiar with the matter said the financing target was raised twice, from 50 billion yuan to 80 billion yuan and then to 100 billion yuan, and the funds will be used for AI data center construction and open-source model development, as well as preparations for an IPO on the STAR Market. Previously, DeepSeek open-sourced DeepSeek-V4.1-Flash-1017 on October 17, and open-sourced the inference framework DeepInfer and the production-grade token codec component deepseek-recipe on October 20.
Phoenix Technology
DeepSeek reportedly completes about 100 billion yuan financing, with CATL and Tencent participating
According to Bloomberg, DeepSeek raised about 100 billion yuan (about $15 billion) in its latest funding round, setting the record for the largest financing in China's AI industry, with CATL and Tencent among the largest investors in this round. People familiar with the matter said that during its discussions with investors, DeepSeek raised its financing target at least twice, from an initial 50 billion yuan to 80 billion yuan, and ultimately to 100 billion yuan. Bloomberg said the funds will be used to advance the construction of AI data centers, develop more open-source models for the Chinese and overseas markets, and provide a funding base for DeepSeek's preparations for an IPO; Reuters previously reported that it had hired CITIC Securities to prepare for an IPO on the Shanghai Stock Exchange's STAR Market.
Sina Tech
DeepSeek Reportedly Completes About 100 Billion Yuan Financing, with CATL and Tencent as Major Investors
According to domestic technology media reports, DeepSeek recently completed about 100 billion yuan (equivalent to 15 billion US dollars) in financing, with CATL and Tencent among the largest strategic investors in this round. The report said that during negotiations, DeepSeek raised its financing target at least twice, from the initial 50 billion yuan to 80 billion yuan, and ultimately settled at about 100 billion yuan. These funds will support its competition with Anthropic, OpenAI and other companies in the global large-model market.
Rohan Paul
DeepSeek reportedly raises about $15 billion, with CATL and Tencent as major investors
Bloomberg reports that DeepSeek has completed a funding round of about $15 billion, one of the largest private financings in China. During negotiations, its funding target was raised at least twice, from about $7.5 billion to $12 billion; CATL and Tencent are the largest investors, with CATL reportedly contributing about $1.5 billion, twice that of the first round. Chinese media put the pre-money valuation at about $74.8 billion, unchanged even as the funding size doubled, meaning the new capital obtained a larger stake at the same price. Together with the first round of more than $7.5 billion completed in June, DeepSeek has raised a total of about $22.5 billion in roughly six months.
Wallstreetcn
Report: DeepSeek Completes Approximately RMB 100 Billion Financing Round, With CATL and Tencent Participating
Sina, citing media reports, says DeepSeek has completed approximately RMB 100 billion (about USD 15 billion) in financing, with the target raised during negotiations from RMB 50 billion to RMB 80 billion and then to approximately RMB 100 billion. CATL plans to invest an additional approximately RMB 10 billion, and Tencent is also one of the largest investors in this round; the new investors are mainly industrial institutions such as Shixi Capital, SMIC Capital, Legend Capital, and Geely. DeepSeek is also advancing a STAR Market IPO, planning to file as early as the end of this year with a target listing in 2027, and Yan Wentao took office as CFO in late September.
Phoenix TechnologySelected
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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