DeepSeek reportedly closing a new RMB 100 billion financing round

On October 13, 2026, reports emerged that DeepSeek is nearing the completion of its second funding round, with the target amount doubling from an initially planned 50亿元 to approximately 1000亿元 in less than half a month. Despite the doubled funding scale, the company's pre-money valuation remains unchanged at around 5000亿元, with new and existing investors splitting the planned investment roughly down the middle. This round is primarily driven by industrial investors, with new participants including Shixi Capital, Sino-IC Capital, CPE, Legend Capital, and Geely. Existing backers such as Contemporary Amperex Technology, Tencent, IDG Capital, Lishi Capital, and Shixiang Capital are also participating, with CATL increasing its investment by approximately 100亿元 after previously contributing about 50亿元 in the first round. DeepSeek's initial external funding round was initiated in April 2026 and completed in late June, raising approximately 510亿元 with a post-money valuation approaching 4000亿元, which marked the largest single financing round in China's AI large model industry at the time, featuring founder Liang Wenfeng as the largest single individual contributor with about 200亿元.