CATL and Tencent lead new DeepSeek funding round as company plans early 2027 IPO
Bloomberg reports that DeepSeek is nearing completion of a new funding round of at least $12 billion. The initial target was about $7.5 billion at a valuation of about $75 billion, but people familiar with the matter say the total could approach $15 billion. CATL and Tencent are the largest contributors.
Why it matters: The funding amount, investors, and IPO timeline together offer a view of DeepSeek's financing for its compute and open-source strategy.

