Tencent Holdings LtdTencent invested 10 billion yuan in DeepSeek's funding round, potentially gaining from IPO.
DeepSeek, a Chinese artificial intelligence startup, is moving forward with plans for an initial public offering in the country, selecting CITIC Securities as its financial advisor for a listing on the Shanghai Stock Exchange's STAR Market, according to two sources. The company aims to begin the IPO process by 2026, but has not yet set an official timeline, amount, or target valuation. This move comes amid a new funding round that could value the company at up to 500 billion yuan, or approximately $75 billion. Previously, the company raised $7.4 billion in June, with a post-money valuation of over $50 billion. DeepSeek founder Liang Wenfeng personally invested 20 billion yuan, while Tencent Holdings invested 10 billion yuan and CATL invested 5 billion yuan. The new funds will be used to support computing infrastructure, AI model development, and talent retention, amid intense competition with leading AI companies in China and the United States.
Tencent Holdings LtdTencent invested 10 billion yuan in DeepSeek's funding round, potentially gaining from IPO.
CITIC Securities Co LtdCITIC Securities selected as financial advisor for DeepSeek's IPO, generating advisory fees.
Contemporary Amperex Technology Co Ltd Class ACATL invested 5 billion yuan in DeepSeek's funding round, potentially gaining from IPO.
DeepSeek plans STAR Market IPO with valuation up to $75 billion, a major financial milestone.