DeepSeek funding round nears 100 billion yuan, valuation seen at 500 billion
In short
Chinese AI developer DeepSeek is expected to raise close to 100 billion yuan (about 20 trillion won) in its current funding round, with CATL and Tencent committing the largest amounts, according to Yonhap, citing Bloomberg. The round, which sources said exceeded an initial 50 billion yuan target, is seen as groundwork for an IPO next year and puts DeepSeek's valuation at a minimum of 500 billion yuan (about 100 trillion won). Korean business outlets also reported that DeepSeek and rival Moonshot AI are preparing listings early next year.
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Chinese AI developer DeepSeek is expected to raise close to 100 billion yuan (about 20 trillion won) in its current funding round, Yonhap reported, citing Bloomberg. Sources said CATL and Tencent, both existing investors in DeepSeek, committed the largest amounts, and that the round would be wrapped up soon. [ 1 ]
The same report said sources described an initial target of 50 billion yuan that was surpassed after DeepSeek released its latest AI model. Bloomberg estimated DeepSeek's valuation in the round at a minimum of 500 billion yuan (about 100 trillion won) and assessed the round as groundwork for an IPO next year. [ 1 ]
Korea Economic Daily's headline said DeepSeek doubled the round to 100 billion yuan; the article text available from that outlet did not address the funding round. Chosun Ilbo reported in a summary that DeepSeek and Moonshot AI are pushing for listings early next year after large funding rounds, saying the two companies have competed with OpenAI and Anthropic with inexpensive open-source AI models and aim to secure money for model development, service operations and infrastructure. [ 2 , 3 ]
Yonhap also reported that DeepSeek plans to place more than 160,000 of Huawei's Ascend AI chips in a data center under construction in Inner Mongolia, described as the largest cluster of Huawei AI chips, and that Moonshot completed its own funding at a $50 billion valuation with an IPO targeted for early next year. [ 1 ]
The two Korean business titles differed from Yonhap on the won equivalent of the funding: Yonhap cited about 20 trillion won, while Chosun Ilbo's headline said 16 trillion won. No statement from DeepSeek itself is cited in the documents. [ 1 , 2 , 3 ]
Why it matters
DeepSeek is one of the Chinese AI developers competing with OpenAI and Anthropic, and a funding round of this size, followed by an IPO, would give it resources for models and infrastructure at a scale that could affect the wider AI market. The reported plan to install more than 160,000 Huawei AI chips in an Inner Mongolia data center points to continued expansion of China's domestic AI hardware base. For readers outside China, the round is a marker of how much capital is still flowing into AI development.
Key facts
- DeepSeek is expected to raise close to 100 billion yuan (about 20 trillion won) in its current funding round, per Yonhap citing Bloomberg. [ 1 ]
- Sources said the initial target was 50 billion yuan and that interest increased after DeepSeek released its latest AI model. [ 1 ]
- CATL and Tencent, both existing investors in DeepSeek, committed the largest amounts, according to sources. [ 1 ]
- Bloomberg estimated DeepSeek's valuation in the round at a minimum of 500 billion yuan (about 100 trillion won). [ 1 ]
- The round was described as groundwork for a DeepSeek IPO next year, and Yonhap said it would finish soon. [ 1 ]
- DeepSeek plans to place more than 160,000 Huawei Ascend AI chips in a data center under construction in Inner Mongolia, described as the largest Huawei AI chip cluster. [ 1 ]
- Rival Moonshot completed a funding round at a $50 billion valuation and is targeting an IPO early next year. [ 1 , 3 ]
Confirmed by several sources
- DeepSeek is raising a funding round of about 100 billion yuan. [ 1 , 2 ]
- The funding is tied to plans for an IPO next year. [ 1 , 3 ]
- Moonshot AI is also pursuing an early-2027 IPO after completing a large funding round. [ 1 , 3 ]
- CATL and Tencent are the largest subscribers to DeepSeek's round and are existing investors, per Yonhap's sources. [ 1 ]
Still unclear
- The won equivalent of the funding amount Yonhap cited about 20 trillion won, while Chosun Ilbo's headline said 16 trillion won for the same yuan figure.
- Whether the funding round has formally closed Sources cited by Yonhap said only that it would finish soon.
- DeepSeek's final valuation The 500 billion yuan figure is a Bloomberg estimate reported by Yonhap, not a confirmed company figure, and no DeepSeek statement is cited.
- What Korea Economic Daily's article said about the round Only its headline was about DeepSeek; the article text available covered unrelated stories.
What local media are saying
Timeline, local time
- Yonhap publishes its report on DeepSeek's expected funding round, citing Bloomberg and sources. [ 1 ]
- Korea Economic Daily publishes a headline saying DeepSeek doubled the round to 100 billion yuan. [ 2 ]
- Chosun Ilbo publishes a summary on DeepSeek and Moonshot AI pursuing early-2027 IPOs after large funding rounds. [ 3 ]