---
title: "DeepSeek’s new funding round has doubled to about 100 billion yuan ahead of a planned listing, Chinese media report"
url: https://anawords.com/story/deepseek-funding-round-doubles-tencent-catl-ipo-report
published: 2026-10-16T15:17:48+05:30
updated: 2026-10-16T15:17:48+05:30
section: Business & Funding
author: Mayank Sahu
checked: sources checked by AI, approved by editor
version: 1
---

# DeepSeek’s new funding round has doubled to about 100 billion yuan ahead of a planned listing, Chinese media report

Caijing reports investors including Tencent, CATL and SMIC are backing a round that values the Chinese AI lab at about 500 billion yuan. DeepSeek has not commented.

**In short:** Chinese AI lab DeepSeek is raising about 100 billion yuan (roughly $14 billion) at a valuation of about 500 billion yuan, financial magazine Caijing reported on 14 October 2026, citing multiple sources. The round is double its original target. DeepSeek has not confirmed the figures.

## What was reported

Chinese financial magazine Caijing reported on 14 October 2026, citing multiple unnamed sources, that DeepSeek’s second funding round has grown to about 100 billion yuan, double its original 50 billion yuan target, at a valuation of about 500 billion yuan.[^1] Seoul Economic Daily carried the Caijing report.[^1]

A week earlier, Bloomberg reported the round at no less than 80 billion yuan, about $12 billion, with Tencent and battery maker CATL among the top investors, according to Quartz.[^2]

The two reports give different amounts, and DeepSeek has not commented on either.[^1][^2]

## Who is investing

Caijing names existing backers Tencent and CATL, and new investors GigaDevice, chipmaker SMIC and carmaker Geely.[^1]

## What the money is for

According to Caijing, the funds will go towards a large data centre in Inner Mongolia where DeepSeek plans to use more than 160,000 Huawei Ascend AI chips.[^1]

## Listing plans

DeepSeek hired Yan Wentao, a former Hillhouse partner, as chief financial officer on 21 September, according to the report.[^1] It is expected to apply to list on Shanghai’s STAR Market as early as the end of 2026, with a listing in 2027.[^1][^2]

## Business figures

Seoul Economic Daily, citing The Information, reports DeepSeek’s annualised revenue has passed $1 billion.[^1] We could not check this figure.

## Why it matters

If the reported figures are right, a round this size would make DeepSeek one of the most valuable AI companies outside the US.

## Fact ledger

- [Unconfirmed] DeepSeek’s round has grown to about 100 billion yuan at a 500 billion yuan valuation. (source 1)
- [Unconfirmed] Bloomberg reported the round at no less than 80 billion yuan, with Tencent and CATL as top investors. (source 2)
- [Unconfirmed] Funds will go to an Inner Mongolia data centre using over 160,000 Huawei Ascend chips. (source 1)
- [Reported] DeepSeek plans to apply to list on Shanghai’s STAR Market, with a listing in 2027. (source 1,2)
- [Not known] DeepSeek’s own confirmation of the round.

## Sources

1. [Seoul Economic Daily: DeepSeek nears $14 billion funding round (citing Caijing)](https://en.sedaily.com/international/2026/10/14/deepseek-nears-14-billion-funding-round-double-its-original)
2. [Quartz: DeepSeek raising $12 billion ahead of 2027 IPO (citing Bloomberg)](https://qz.com/deepseek-funding-round-tencent-catl-ipo-100626)