DeepSeek is reportedly on the verge of raising at least $12 billion, with Tencent and CATL leading the way

The Chinese laboratory is reportedly targeting 80 billion yuan, well above the 50 billion initially hoped, in preparation for an IPO.

According to Bloomberg information picked up by several media outlets, DeepSeek is close to completing a funding round of at least 80 billion yuan, or about $12 billion. Internet giant Tencent and battery manufacturer CATL are among the biggest contributors.

The initial target was around 50 billion yuan. Investors' appetite, boosted by the success of the laboratory's latest model, has driven up the amount: according to the letters of intent already signed, the fundraising could even approach 100 billion yuan (nearly $15 billion), although the final figure remains to be negotiated.

Focus on the stock market and Huawei

These funds would serve as pre-IPO capital, with DeepSeek preparing a listing. The company also plans to install at least 160,000 Huawei AI accelerators in a data center under construction in Inner Mongolia, a choice that confirms its anchoring in the Chinese hardware sector.