DeepSeek eyes doubling latest funding round to $15B: report

• China’s DeepSeek (DEEPSEEK) is considering expanding its latest funding round to as much as 100 billion yuan ($14.9 billion), double its earlier target, with state-backed funds and corporate investors jostling for stakes, people familiar with the matter told CNBC.
• The AI startup has fielded strong interest from state-backed funds, investment arms of listed Chinese companies, and venture capital firms, the report said.
• But DeepSeek is vetting prospective investors closely, turning away private investment funds raised from individual investors and limiting the pool largely to government and corporate funds.
• The fundraising process remains fluid, and the amount could still change before talks conclude. Bloomberg reported earlier Tuesday that DeepSeek is close to securing at least 80 billion yuan, with Tencent (TCEHY) and battery maker CATL among the largest backers, and is eyeing an IPO in early 2027.
• CATL, Geely Auto and investment managers Monolith Management and Loyal Valley Capital have committed capital in the latest round, one of the people told CNBC.

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