DeepSeek Nears $12 Billion Funding Round With Tencent and CATL Ahead of 2027 IPO

DeepSeek is close to raising at least 80 billion yuan, about $12 billion, ahead of a planned IPO in early 2027, people familiar with the matter say. Contemporary Amperex Technology and Tencent have committed among the largest amounts. Term sheets suggest the total could reach 100 billion yuan, well above the 50 billion yuan first sought.

• DeepSeek is close to securing at least 80 billion yuan, about $12 billion, in its latest funding round ahead of a planned initial public offering in early 2027.
• Contemporary Amperex Technology and Tencent Holdings have committed among the largest amounts in the financing, which closes soon, say people familiar with the matter.
• DeepSeek initially sought about 50 billion yuan, but term sheets suggest the final tally could approach 100 billion yuan after its latest AI model release.