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DeepSeek to raise at least $12 billion in Tencent-backed funding, Bloomberg News reports
The round has drawn large commitments from CATL and Tencent as investor demand surged after DeepSeek’s latest AI model release.
- On Tuesday, October 6, 2026, DeepSeek neared securing at least 80 billion yuan in funding, exceeding its initial capital-raising target ahead of a landmark IPO planned for early 2027.
- Battery pioneer Contemporary Amperex Technology and WeChat-operator Tencent Holdings committed major capital to the financing round, with investor interest outstripping the company's original goal of about 50 billion yuan.
- Building on earlier support including a 10 billion yuan investment from Tencent, DeepSeek plans to deploy at least 160,000 Huawei Technologies accelerators at a data center in Inner Mongolia.
- Following the close of this funding round, the startup expects to restructure the company to prepare for its upcoming public market debut, according to people familiar with the matter.
- Founder Liang Wenfeng aims to push artificial intelligence boundaries, positioning the company to compete against Silicon Valley leaders like OpenAI and Anthropic with open-source models.
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DeepSeek reportedly nears $12 billion funding round backed by Tencent and CATL · TechNode
DeepSeek is close to securing at least RMB 80 billion ($12 billion) in a new funding round, with Tencent and battery maker CATL among the largest investors, Bloomberg reported on October 6, citing people familiar with the matter. The Chinese AI company initially sought about RMB 50 billion, but investor interest pushed commitments above that […]
Chinese AI company DeepSeek has achieved a corporate value of 100 trillion won by attracting over 16 trillion won in investment. With the secured funds, the company plans to expand its data center infrastructure and strengthen its competitiveness in the global AI market by pursuing an IPO next year in partnership with Moonshot AI.
Coverage Details
Total News Sources56
Leaning Left3Leaning Right9Center7Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 16%
C 37%
R 47%
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