DeepSeek Reportedly Raises About $15 Billion in New Funding

Chinese AI startup DeepSeek is reported to have raised about 100 billion yuan, with major technology and industrial investors joining a round that could double its original target.

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Oct 23, 2026 - 12:15

Oct 23, 2026 - 12:48

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DeepSeek branding on a device screen (file photo). Photo: Bloomberg / Getty Images via WIRED. Source: https://www.wired.com/story/deepseek-app-popular-viral/

DeepSeek Reportedly Raises About $15 Billion in New Funding

Chinese artificial-intelligence startup DeepSeek has raised about 100 billion yuan, or $14.98 billion, in a new funding round, according to four people familiar with the matter cited by Reuters. The report follows Bloomberg News coverage that put the round at about $15 billion.

The reported investors include chipmaker GigaDevice, food-delivery company Meituan and automaker Geely. Existing shareholders Contemporary Amperex Technology and Tencent Holdings were among the largest investors, according to two of the sources. Midea, NetEase, Boyu Capital, CPE, Legend Capital and IDG Capital were also reported to have participated.

A round that could double the original target

The total number of investors exceeded 15, one source told Reuters. DeepSeek had originally targeted 50 billion yuan, so the reported round would double that goal. Sources said the fundraising was expected to finish in the coming days and that the financial details and investor lineup could still change.

DeepSeek could be valued at 500 billion yuan before the new capital is injected, according to sources. Reuters stressed that the company could not immediately be reached for comment and that the information was not final.

China’s AI supply-chain strategy

The fundraising would give DeepSeek more resources as China seeks to compete with leading US AI laboratories. Omdia analyst Lian Jye Su told Reuters that the participation of Chinese component and supply-chain companies showed confidence in DeepSeek’s open-source strategy and could make the startup a significant part of domestic technology supply chains.

The company raised $7.4 billion in its first external funding round in June, Reuters reported. It is also preparing for a possible IPO process, with CITIC Securities reportedly hired to work on a potential STAR Market listing. None of those steps guarantees a public offering or confirms the final terms of the new round.

Illustrative AI-processor concept; not a product or system made by a company named in this report. Photo: Igor Omilaev / Unsplash. Unsplash License; cropped to 16:9. Image source; license.