DeepSeek raises €12.9 billion from Tencent, CATL and other investors ahead of IPO
AI · Thursday, October 22, 2026 · 8 sources

DeepSeek raises €12.9 billion from Tencent, CATL and other investors ahead of IPO

DeepSeek has raised about 100 billion yuan (€12.9 billion; $15 billion), with Tencent and battery maker CATL among its largest investors, Bloomberg reported, citing people familiar with the deal. The Hangzhou-based AI company is increasing spending on data centres and open-source models as it prepares for an IPO, though Reuters reported the round was still being finalised and its terms could change.

Bottom line — DeepSeek’s final funding terms and IPO plans remain unconfirmed.

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  1. Bloomberg reported that DeepSeek lifted its fundraising target from 50 billion yuan (€6.4 billion; $7.49 billion) to 80 billion yuan (€10.3 billion; $12 billion) before reaching the reported total.

  2. Reuters, as reported by China Daily and GPTOnline, said the round was expected to close in the coming days and that financial terms could still change.

  3. Finimize reported a possible pre-money valuation of 500 billion yuan (€64.5 billion) and a post-money valuation near 600 billion yuan (€77.3 billion); it described these as reported figures.

  4. Tech in Asia reported that DeepSeek, Tencent and CATL did not respond to requests for comment.

  5. China Daily reported that DeepSeek earns most of its revenue by charging businesses and developers for model access through an API.

Read the reporting 7

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Last generated: Oct 22, 1:50 PM 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 22, 1:50 PM UTC by wreetco