DeepSeek seeks at least €10.3bn as funding talks run past its target
AI · Wednesday, October 7, 2026 · 8 sources

DeepSeek seeks at least €10.3bn as funding talks run past its target

DeepSeek is close to raising at least 80bn yuan, about €10.3bn ($12bn), with Tencent and battery maker CATL among its largest backers, Bloomberg reports. The round began with a 50bn-yuan target and could approach 100bn yuan (€12.9bn; $15bn), while the company prepares for a potential early-2027 IPO. The capital is intended to support a major computing build-out, including a data centre in Inner Mongolia.

Bottom line — DeepSeek’s funding round could reach 100bn yuan (€12.9bn), but the final terms remain unsettled.

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  1. Bloomberg says signed term sheets point to a possible total near 100bn yuan (€12.9bn; $15bn); CNBC also reports the round could reach that level, though talks remain fluid.

  2. CNBC reports DeepSeek is seeking a valuation of about 500bn yuan (€64.5bn; $75bn); Bloomberg says the current financing is still being finalised.

  3. Bloomberg reports Tencent and CATL have committed among the largest amounts. CNBC also names Geely Auto, Monolith Management and Loyal Valley Capital as investors.

  4. Bloomberg says DeepSeek plans to deploy at least 160,000 Huawei accelerators at its Inner Mongolia data centre.

  5. The fundraising briefly paused after remarks attributed to founder Liang Wenfeng about Chinese AI lagging the US and relying on Nvidia chips, Bloomberg and CNBC report.

  6. CNBC says DeepSeek is screening investors closely, favouring government and corporate funds over private funds raised from individual investors.

  7. Bloomberg reports the next step after the round is expected to be restructuring for a possible early-2027 IPO.

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Last generated: Oct 7, 6:51 AM UTC by wreetco

dstld. Your daily news summary designed to surface the news that matters from a European perspective. Curated by humans, summarized by AI - always with links back to the original reporting.

Links · Contact
Popular topics · WorldEuropeGamesAI
Last generated: Oct 7, 6:51 AM UTC by wreetco