DeepSeek Is Reported to Be Raising About $15B, Double Its 50 Billion Yuan Target

Reported, according to Reuters on 22 Oct 2026: DeepSeek is wrapping up a round of about 100 billion yuan, which Reuters states as $14.98 billion. Bloomberg first reported the same day that DeepSeek had raised about $15 billion. The original target was 50 billion yuan, so the reported round is double that target. Tencent and CATL, both existing shareholders, are among the biggest backers. The round is expected to close in the coming days, and terms and the investor lineup can still change. DeepSeek has not commented. A September Reuters report said DeepSeek hired CITIC Securities to prepare a potential Shanghai STAR Market IPO.