Chinese AI firm DeepSeek taps underwriters including Citic Securities for IPO: sources
Chinese frontier artificial intelligence lab DeepSeek has hired underwriters including Citic Securities in preparation for a domestic initial public offering (IPO), according to two people familiar with the matter. Citic Securities was one of the four underwriters tapped by the Hangzhou-based firm, which aims to begin the IPO process this year to list on the Shanghai Stock Exchange’s Nasdaq-like…
Chinese AI startup DeepSeek is set to go public with the help of underwriters such as Citic Securities, according to two sources familiar with the matter. The Hangzhou-based company plans to begin its IPO process this year, listing its shares on Shanghai Stock Exchange's Star market. The firm is moving forward with a pre-IPO financing round, which could potentially value it at approximately 500 billion yuan (US$74 billion) before the investment.
DeepSeek is also competing with Beijing-based Moonshot AI, which recently filed for a Hong Kong IPO, with the aim of raising between US$3 billion and US$5 billion. Both DeepSeek and Moonshot AI are following the lead of Z.ai and MiniMax, who went public in Hong Kong earlier this year, becoming the first pure-play AI model developers to do so.
The two Chinese companies, along with their US counterparts OpenAI and Anthropic, are valued at over US$1 trillion and US$2 trillion, respectively, and have recently undergone significant hiring and infrastructure expansion to accommodate growing user demand.
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- China's DeepSeek taps CITIC Securities for domestic IPO economictimes.indiatimes.com
- Chinese AI firm DeepSeek taps underwriters including Citic Securities for IPO: sources scmp.com
