DeepSeek raises $15b from Tencent, CATL ahead of IPO
The company is increasing spending on AI data centers and open-source models as it prepares for an initial public offering.
Chinese artificial intelligence startup DeepSeek has raised approximately 100 billion yuan, or around $15 billion, in its latest funding round, according to Bloomberg News. The Hangzhou-based company increased its fundraising target multiple times, starting from an initial 50 billion yuan, before ultimately reaching the final amount, as reported by the news outlet.
Tencent Holdings and Battery maker Contemporary Amperex Technology Co Ltd (CATL) were among the largest investors in DeepSeek, according to the report. Despite the substantial funding, DeepSeek still lags significantly behind U.S. AI rivals OpenAI and Anthropic, which have collectively raised over $100 billion in funding.
DeepSeek gained international attention in 2025 after demonstrating that high-quality AI models could be developed at a relatively low cost, leading to a sell-off in technology stocks. Since then, the company has ramped up spending on data centers and open-source models, preparing for a potential initial public offering, as reported by Bloomberg.
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- Deepseek raises $15 bln in Tencent, CATL-backed funding round - Bloomberg investing.com
- Sources: DeepSeek raised ~$15B in its latest fundraising round, one of China's largest ever, with CATL and Tencent among the biggest contributors (Lulu Yilun Chen/Bloomberg) bloomberg.com
- Tencent and CATL back DeepSeek's $15B funding round to challenge top US AI labs: report seekingalpha.com
- Deepseek raises $15 billion in challenge to leading US labs, Bloomberg News reports channelnewsasia.com
