DeepSeek

Artificial Intelligence · China Tech

Funding

DeepSeek reportedly nears $7.4B round at $74B valuation before 2027 IPO

The raise arrives as China's AI leaders abandon discount pricing to cover soaring computing costs.

• DeepSeek is close to finalizing a roughly 50 billion yuan ($7.4B) funding round valuing it at $74B before the money, with Chinese battery giant CATL among the backers as it preps a Shanghai Star Market IPO in 2027.
• Founded in 2023 by Liang Wenfeng, who also co-founded the $14B quant hedge fund High-Flyer, DeepSeek shook global AI markets with cheap, high-performing open models before pivoting toward monetization.
• A full $7.4B raise on a $74B pre-money base would push DeepSeek's post-money valuation to roughly $81B, among the highest private marks for any AI company outside the US.
• The financing could close by the end of August, setting up a possible IPO filing as soon as year-end and a public debut on Shanghai's Nasdaq-style Star Market in 2027.
• The round lands as DeepSeek and rivals Zhipu AI, Alibaba, Tencent and Baidu raise API prices this year, signaling a broader pivot from discount wars to monetizing costly AI infrastructure.
• DeepSeek is also reviewing a plan to add about 1 gigawatt of computing capacity as it races to keep pace with intensifying domestic and global competition.
• A $74B mark would make DeepSeek one of the most valuable AI startups outside the US and a bellwether for whether China's AI champions can go public without relying on US capital markets.