DeepSeek reportedly wrapping a $15 billion raise at a 500 billion yuan valuation

Sourcing note: this report rests on anonymous sourcing. Bloomberg first reported the round citing people familiar with the matter, Reuters reported it from four people with knowledge of the matter who declined to be named because the information was confidential, and Reuters states that the fundraising is set to complete in the coming days but that the financial details and the investor lineup are not ironclad and could still change. DeepSeek, CATL and Tencent could not be reached or did not respond for comment in the reporting. This item will be updated when the round is confirmed or the details change.

DeepSeek is reportedly wrapping up a funding round of about 100 billion yuan, about $14.98 billion, at a reported 500 billion yuan pre money valuation, two days after the United States ordered federal civilian agencies to remove DeepSeek technology from their systems. Reuters reports that battery maker CATL and Tencent were among the biggest investors, that Midea, Meituan, Geely and GigaDevice became new investors, and that the total number of investors exceeded 15. The round follows a June raise of more than $7 billion at a $50 billion valuation and reporting that DeepSeek has hired CITIC Securities to prepare for a possible STAR Market listing.

Sources: Reuters via KTWB; TechCrunch