DeepSeek Nears Billion in Tencent-Backed Funding, Bloomberg Reports

DeepSeek Nears $12 Billion in Tencent-Backed Funding, Bloomberg Reports

Chinese AI startup DeepSeek is close to securing $12 billion in funding with major support from Tencent and CATL, according to Bloomberg.

Editorial Desk

October 6, 2026 One Min Read

POLICY WIRE — Beijing, China — Chinese artificial intelligence company DeepSeek is nearing a significant financial milestone, with reports indicating it is on the verge of raising at least 80 billion yuan (approximately $12 billion) in its most recent funding round, according to Bloomberg News.

The fundraising effort, which has drawn strong interest from key investors, includes substantial commitments from battery manufacturer Contemporary Amperex Technology (CATL) and tech giant Tencent Holdings. This development comes as the firm prepares for a potential initial public offering in early 2027, marking a major step in its growth trajectory.

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Bloomberg cited sources familiar with the matter, though Reuters was unable to independently confirm the details. The round far exceeds DeepSeek’s original target of 50 billion yuan, highlighting growing confidence in the company’s position within the rapidly evolving AI sector.

Reporting by Policy-Wire (PW)

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