Chinese AI startup DeepSeek pursues $7.4B funding at $52B-$59B valuation - report

2026-06-03 01:34:55 ET

Chinese AI startup DeepSeek is set to raise about 50B yuan (close to $7.39B) in its first external funding round, according to a Reuters report that cites people familiar with the matter. The deal could value the company at 350B yuan to 400B yuan (around $52B to $59B) post-money....

Founder Liang Wenfeng has committed 20B yuan to the round, the sources added . Tencent ( TCEHY ) is considering investing 10B yuan, while battery maker CATL ( CATL ) is looking to contribute 5B yuan, which would make them the largest external investors in the fundraising.

DeepSeek ( DEEPSEEK ) is also in final-stage discussions with China's national AI fund, gaming company NetEase ( NTES ), and e-commerce giant JD.com ( JD ). However, the total number of investors in the funding round is expected to remain below 10.

Hong Kong-based IDG Capital and Monolith Capital are also among the prospective investors, the people added.

The fundraising is expected to be completed within the next couple of weeks, although the terms and financials are subject to change, people with knowledge said. The company has not announced any plans to go public.

DeepSeek ( DEEPSEEK ) emerged as China's leading AI company early last year after its V3 and R1 models gained global attention, including Silicon Valley. The move underscores China's push for AI self-sufficiency, building domestic capabilities across models, chips, and infrastructure to reduce reliance on foreign tech.

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