DeepSeek Nears $12 Billion Raise From Tencent and CATL at 500 Billion Yuan Valuation

Chinese AI lab DeepSeek is close to raising at least 80 billion yuan, about $12 billion, from investors including Tencent and CATL, people familiar with the matter said. Signed term sheets suggest the total could approach 100 billion yuan, double the original target. The company has hired CITIC Securities to prepare a possible STAR Market listing, which one account placed in early 2027.

• DeepSeek is close to raising at least 80 billion yuan, about $12 billion, from investors including Tencent and CATL, people familiar with the matter said.
• Term sheets already signed suggest the total could approach 100 billion yuan, well above the original 50 billion yuan target, with the round opening in July at a 500 billion yuan valuation.
• DeepSeek hired CITIC Securities to prepare for a possible listing on Shanghai's STAR Market, which one account placed in early 2027.