AIBRIEF
Chinese AI lab overshot its $7.5B target, valuing itself at a $75B floor, with CATL, the world's largest battery maker, among its lead investors.
DeepSeek is close to closing a funding round of at least $12 billion (80 billion yuan) at a $75 billion valuation floor, according to Bloomberg reporting carried by Proactive Investors. Tencent and CATL (Contemporary Amperex Technology), the world's largest EV battery maker, are among the largest check-writers in the round, per Reuters.
The round overshot its initial $7.5 billion target after DeepSeek's latest model launch. The final total could approach $15 billion if it reaches 100 billion yuan, MarketScreener added. Either figure is roughly 1.6x the size of the lab's earlier 2026 round, which raised about $7.4 billion at a $52-59 billion valuation.
As of October 6, 2026, none of DeepSeek, Tencent, or CATL had publicly confirmed the deal, and Reuters said it could not independently verify the terms. The round is still described as in "final stages" and subject to change.
Bloomberg has reported that DeepSeek is preparing a mainland IPO filing as soon as 2026, with a debut targeted for 2027, putting a public-market deadline on the round.