DeepSeek Seeks $11.9B Funding at $74.6B Valuation to Scale AI Business

DeepSeek is aiming for a valuation of 500 billion yuan, which's about $74.6 billion in this new funding round. The fundraising began in July. Is expected to finish in October though the exact amount and valuation may still change.

DeepSeek’s Funding Round

Sources say that DeepSeek wants to pull more than 80 billion yuan, which equals $11.9 billion in this latest round. The total could rise to 100 billion yuan or $14.9 billion.

Chinese technology giants Tencent Holdings and battery maker CATL are likely to be among the backers in this round.

This new fundraising comes after DeepSeek’s major outside funding of about $7.4 billion in June.

DeepSeek Prepares for IPO

DeepSeek has apparently hired CITIC Securities to help get ready for a possible listing on the STAR Market, which is China’s technology-focused stock exchange.

Still DeepSeek has not fixed the timing, valuation or size of the IPO.

The STAR Market has been opening up more to technology firms that're not yet profitable offering a possible path for AI startups, like DeepSeek to reach public markets.

DeepSeek Expands AI Infrastructure

DeepSeek builds language models used in many artificial intelligence applications and has become one of China’s well-known AI companies.

DeepSeek has also joined forces with Huawei Technologies to create programming tools that work best with Huawei’s Ascend AI chips.

This partnership comes as Chinese tech firms try to secure AI computing hardware and cut their reliance on advanced foreign chips.

About DeepSeek

DeepSeek is a Chinese AI startup that focuses on creating language models and other artificial intelligence technologies. DeepSeek has drawn a lot of attention in China’s AI scene after releasing its AI models.

The new funding that DeepSeek is seeking would give DeepSeek money to grow its AI development and infrastructure while also helping DeepSeek prepare for a possible public listing.

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