EL7.AI
StocksMedium•22 October 2026•
3 min read

DeepSeek May Raise 100 Billion Yuan in Funding Round Exceeding Original Target

Key Facts

1DeepSeek's funding round could ultimately raise 100 billion yuan, according to Investing, citing Bloomberg.
2DeepSeek is preparing to raise more than 80 billion yuan, equivalent to $11.93 billion, according to an earlier Reuters report.
3The company launched the round targeting a valuation of 500 billion yuan, equivalent to $74 billion, according to Reuters.
4The round's original target was to raise 50 billion yuan, according to Investing, citing Bloomberg.
5DeepSeek raised about $7.4 billion in its first external funding round, according to Reuters.

Chinese artificial intelligence company DeepSeek could raise as much as 100 billion yuan in a funding round, according to a report published by Investing in October 2026, citing Bloomberg and people familiar with the matter. The report said the company initially sought to raise 50 billion yuan, before potential proceeds looked set to exceed that level. Describing the possible size of the round, it said "the final amount raised could climb to 100 billion yuan." Reuters had cited a person familiar with the matter in an October 6 report as saying the company was preparing to raise more than 80 billion yuan. The agency said that amount was equivalent to $11.93 billion. The fundraising efforts follow DeepSeek's raising of about $7.4 billion in its first external funding round, according to Reuters.

DeepSeek launched the round in July 2026, targeting a valuation of 500 billion yuan, according to the Reuters report published in October. The target valuation is equivalent to $74 billion, using the dollar equivalent provided by the agency. That level was above the potential post-money valuation range cited by Reuters sources when discussing the first round in June 2026. At the time, the sources estimated the company's post-money valuation at between 350 and 400 billion yuan. The agency gave a dollar equivalent for that range of between $52 and $59 billion. The move to external funding marks a shift from DeepSeek's previous policy of avoiding it, as the company had relied on its founder Liang Wenfeng's quantitative hedge fund, High-Flyer.

The backdrop to moves by companies linked to the artificial intelligence sector includes activities spanning both models themselves and the infrastructure required by data centers. According to Reuters, CATL is exploring opportunities to supply power equipment for AI data centers. The opportunities the company is examining also include providing energy storage solutions for those centers. On the model side, Tencent is promoting its own AI model, Hunyuan, according to the agency. In a recent regulatory development concerning DeepSeek, the U.S. Department of Homeland Security published an order requiring the removal of products from the company and its subsidiaries from federal civilian agencies' information technology systems. The removal requirement extends to third-party products and services developed using DeepSeek applications, according to the text of the order published in the Federal Register.

As for its next steps, DeepSeek has enlisted CITIC Securities, according to Reuters. The securities firm is handling preparations for a potential DeepSeek initial public offering. The agency identified China's STAR Market as the venue where the potential listing is being prepared. Alongside these preparations, Reuters sources expected the funding round to be completed during October 2026. That expectation appeared in the agency's October 6 report, when the company was preparing to raise funds.