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AI & Enterprise
DeepSeek raises $15 billion, aims for Shanghai IPO in early 2027
Chinese AI startup DeepSeek raised $15 billion in its second private funding round, the Wall Street Journal reported on Oct. 22, citing sources. Investor demand nearly doubled the fundraising from the initial target, the report said. DeepSeek is also moving up its timetable and is aiming for a Shanghai stock market listing in early next year. If the plan proceeds, it could list before OpenAI and China’s Moonshot AI, the report said.
AI & Enterprise
DeepSeek weighs up to 100 billion yuan fundraising, double initial target
Chinese AI company DeepSeek is considering expanding its latest funding round to as much as 100 billion yuan, double its initial 50 billion yuan target. CNBC reported it is seeing strong demand from state-backed funds, investment arms of listed firms and venture capital, while excluding some privately funded pools. Reuters reported it is close to securing at least 80 billion yuan and is seeking a 500 billion yuan valuation.
AI & Enterprise
DeepSeek taps first CFO ahead of IPO to step up low-cost AI push
DeepSeek is moving to appoint its first chief financial officer ahead of an initial public offering, as it accelerates fundraising and listing preparations. It is considering Yen Wen-tao of GL Ventures, part of Hillhouse Investment, for the role. DeepSeek has widened market share with low-cost, high-performance models but needs significant funding for chips, computing infrastructure and talent. It has selected underwriters including CITIC Securities and is said to be targeting Shanghai’s STAR Market, alongside pre-IPO fundraising.
