DeepSeek is close to raising at least 80 billion yuan, with Tencent and CATL among the largest backers, Bloomberg reports

Chinese AI lab DeepSeek is close to securing at least 80 billion yuan, about $11.93bn, in a new funding round, Bloomberg News reported on 6 October, citing people familiar with the matter, according to Reuters and The Next Web. Bloomberg said the battery maker CATL and Tencent Holdings have committed among the largest amounts.

According to Bloomberg, DeepSeek first sought about 50 billion yuan. Investor demand grew after the launch of its latest AI model, and the final total could approach 100 billion yuan.

Reuters said it could not immediately verify the report. DeepSeek, Tencent and CATL did not immediately respond to Reuters' requests for comment, and DeepSeek has not announced the round, so none of the figures is confirmed by the company. Neither outlet gives a valuation for this round, so none is given here.

Reuters noted that DeepSeek had recently released V4.1-Flash and has worked with Huawei on programming tools for Huawei's Ascend AI chips. It also recalled its own report last month that DeepSeek had hired CITIC Securities to prepare for a possible listing on Shanghai's STAR Market.

Until DeepSeek or its investors confirm the round, it remains a report, and the amounts could change before it closes.

• Reported DeepSeek is close to securing at least 80 billion yuan ($11.93bn), Bloomberg reported, according to Reuters. Reuters via Khaleej Times
• Reported DeepSeek initially sought about 50 billion yuan and the total could approach 100 billion yuan, Bloomberg reported, according to Reuters and The Next Web. The Next Web
• Reported CATL and Tencent have committed some of the largest sums, Bloomberg reported. Reuters via Khaleej Times