DeepSeek to raise at least $12 billion in Tencent-backed funding, Bloomberg News reports
Bloomberg reports Chinese AI startup DeepSeek is raising at least $12B in a Tencent- and CATL-backed funding round after its latest AI model launch, with a potential STAR Market IPO in view
Chinese AI startup DeepSeek is close to securing at least 80 billion yuan ($11.93 billion) in its latest round of funding, Bloomberg News reported on Tuesday, citing people familiar with the matter.
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Chinese battery maker CATL and Tencent Holdings have committed among the largest amounts in the current funding round, the report said.
DeepSeek initially sought about 50 billion yuan but investor demand exceeded expectations following the successful launch of its latest AI model, Bloomberg News said, adding that the final tally could approach 100 billion yuan.
DeepSeek, Tencent and CATL did not immediately respond to Reuters' requests for comment. Reuters could not immediately verify the report.
DeepSeek recently partnered with Huawei Technologies to develop programming tools optimised for Huawei's Ascend AI chips, highlighting China's push to reduce reliance on Nvidia's AI ecosystem.
Last month, the company released its latest model, DeepSeek-V4.1-Flash, and said it was designed for greater capability, faster inference, higher throughput and scaling to larger models.
DeepSeek had hired CITIC Securities to prepare for a potential STAR Market initial public offering, though the timing, valuation and fundraising size remain undecided, Reuters reported last month.