DeepSeek Nears Massive 100 Billion Yuan Funding Round, Paving Way for Early 2027 IPO

Chinese artificial intelligence pioneer DeepSeek is closing in on its second major external funding round, with total commitments expected to reach 80 billion to 100 billion yuan (US$12 billion to 15 billion).

The fundraising campaign has outpaced its initial target of 50 billion yuan, driven by intense investor demand following recent model rollouts. This blockbuster capital injection lays the groundwork for a planned initial public offering (IPO) targeted for early 2027. The company is fast-tracking preparations for its public debut, with the IPO window pointing toward early 2027 and potential listings eyed for domestic exchanges like Shanghai's STAR Market.

The current funding round is co-led by lithium-ion battery giant CATL and tech titan Tencent Holdings, both providing massive financial commitments, along with strategic state-backed funds and venture capital institutions.

DeepSeek's aggressive capital push highlights a rapidly maturing Chinese generative AI sector, with rivals like Zhipu AI and Moonshot AI, the developer of Kimi K3.

Zhipu has successfully completed a Hong Kong IPO, with a market capitalization fluctuating between US$7 billion and US$10 billion.Moonshot AI completed multiple funding rounds through 2026, achieving a post-money valuation of US$35 billion while actively setting up a Pre-IPO round with a targeted pre-money valuation of US$50 billion.