DeepSeek Raises Over 80 Billion Yuan with Tencent and CATL Leading the Round, Potentially Reaching 100 Billion
nashnova research
DeepSeek has locked in at least RMB 80 billion (~US$12 billion) in its latest round, led by Tencent and CATL; investor demand far exceeded targets, potentially pushing the total to RMB 100 billion ahead of a planned 2027 IPO.
RMB 80 billion locked in — how much did this round actually raise?
Sources say DeepSeek's latest round has nearly locked in at least RMB 80 billion (~US$12 billion), with closing imminent.
The company originally targeted about RMB 50 billion — the actual figure overshot by more than 60%.
This means → the market's valuation of DeepSeek has moved far ahead of the company's own expectations. Capital is chasing the deal, not the other way around.
Why did investor demand so far exceed the target?
Sources say investor interest surged past expectations after DeepSeek successfully released its latest AI model.
In plain terms = the product shipped first, then the money followed — this isn't a pitch-deck raise, it's a post-delivery markup.
Based on signed term sheets, the final size could approach RMB 100 billion. Whether it hits that mark is the key milestone to watch as the round closes.
Tencent and CATL co-leading — what does this pairing signal?
Tencent and CATL (宁德时代, China's largest EV battery maker) are among the lead investors.
This reflects two things: big tech is doubling down on AI, and energy-chain capital is now betting directly on the compute layer.
In plain terms = a social-media giant and a battery giant investing in AI together signals that AI is no longer a tech-sector story alone — industrial capital sees it as the next infrastructure-scale opportunity.
Where does this round ultimately point?
Sources say the funding is designed to lay the groundwork for DeepSeek's planned IPO in early 2027.
This means → this is not a survival raise. It is the last large-scale pricing event before listing — investors are buying the final pre-IPO ticket.
If DeepSeek lists at a valuation near RMB 100 billion, it would rank among the largest AI IPOs in China to date.
市场有风险，内容仅供研究参考，不构成投资建议。