Business · Updated 6 Oct, 04:20 pm IST

DeepSeek nears at least $12 billion Tencent- and CATL-backed funding

Why it matters for readers: Explains that DeepSeek's new models and chip partnerships are driving rapid investor interest and expansion plans.

DeepSeek is close to raising at least 80 billion yuan (about $11.93 billion) in its latest funding round, with demand possibly pushing the total higher.1 2
Battery maker CATL and Tencent are among the largest backers in the round.1 2
DeepSeek recently released new V4-series models (V4.1-Flash / V4-Flash and V4-Pro) that investors say improved cost and performance.1 2
The company is working with Huawei to develop programming tools optimised for Huawei's Ascend AI chips and is building a data centre planned to include at least 160,000 Huawei AI chips.1 2
DeepSeek has hired CITIC Securities to prepare for a possible STAR Market IPO and may restructure to pursue a 2027 listing.1 2

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6 Oct, 11:41 am · ET Tech
DeepSeek to raise at least $12 billion in Tencent-backed funding
6 Oct, 04:20 pm · The Decoder
CATL and Tencent back Deepseek's ballooning funding round as the AI startup eyes a 2027 IPO