Published • loading... • Updated
China's DeepSeek taps CITIC Securities for domestic IPO: Report
The startup is seeking funding as AI rivals rush to public markets and costs climb for computing power, data centers and talent.
- On September 9, Chinese AI startup DeepSeek tapped CITIC Securities to prepare for an initial public offering on Shanghai's STAR Market. The Hangzhou-based company aims to begin the IPO process this year, though timing and valuation remain undetermined.
- Seeking mainland China listings, companies typically appoint securities firms for pre-listing tutoring. This reflects mounting pressure on AI firms to secure public capital to finance costly computing power and specialized engineering talent.
- In June, the startup raised about $7.4 billion at a post-money valuation exceeding $50 billion. Founder Liang Wenfeng personally committed 20 billion yuan, while Tencent Holdings and CATL contributed 10 billion yuan and 5 billion yuan respectively.
- Recent talent losses to better-funded rivals like ByteDance and Xiaomi highlight operational strain facing DeepSeek. These departures underscore the urgent need for public market financing to remain competitive.
- Developers MiniMax and peers listed in Hong Kong earlier this year, while Beijing-based Moonshot filed confidentially for a similar offering. DeepSeek's push positions it among a wave of Chinese AI firms racing for public capital amid rising computational costs.
Insights by Ground AI
9 Articles
9 Articles
EXCLUSIVE: China's DeepSeek taps CITIC Securities for domestic IPO, sources say
Chinese artificial intelligence startup DeepSeek has tapped CITIC Securities to prepare for an initial public offering on Shanghai's tech-focused STAR Market, two people with knowledge of the matter said.
·London, United Kingdom
Read Full Article
As securing shares became difficult in DeepSeek's latest funding round, investors turned to indirect fund structures. Some instruments have entry fees exceeding 15%, profit shares reaching up to 40%, and shares are locked in for five years.
Coverage Details
Total News Sources9
Leaning Left0Leaning Right0Center5Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
Factuality
To view factuality data please Upgrade to Premium
