Chinese artificial intelligence startup DeepSeek has reportedly secured approximately $15 billion in its latest fundraising round, as the company seeks to expand its AI development capabilities and compete with leading US technology firms, including OpenAI and Anthropic.
The Hangzhou-based company raised around 100 billion yuan ($14.98 billion), according to Bloomberg News, citing people familiar with the matter. The reported investment marks one of China's largest AI fundraising rounds and reflects growing investor interest in domestic artificial intelligence companies.
Battery manufacturer Contemporary Amperex Technology Co. Ltd. (CATL) and technology conglomerate Tencent Holdings, which operates WeChat, were among the largest investors participating in the round.
DeepSeek reportedly increased its fundraising target twice during discussions with potential investors. The company initially sought 50 billion yuan before raising its target to 80 billion yuan and subsequently reaching approximately 100 billion yuan.
Reuters reported that it could not independently verify the initial Bloomberg report. In subsequent reporting, Reuters cited two people familiar with the fundraising who said the round was nearing completion, with final financial details still subject to change.
The funding comes as DeepSeek prepares for a potential initial public offering in China. The company has reportedly engaged CITIC Securities to advise on a possible listing on Shanghai's STAR Market, although a formal listing timetable has not been confirmed.
Founded by Liang Wenfeng, DeepSeek attracted international attention in 2025 after introducing AI models that demonstrated competitive performance while highlighting the potential for lower-cost model development.
Its emergence prompted greater scrutiny of the investment required to develop advanced AI systems and raised questions about the competitive position of established American technology companies.
The latest financing could provide DeepSeek with additional resources to invest in computing infrastructure, research and model development as competition intensifies across the global AI industry.
The company has also been expanding its use of domestic computing technology amid restrictions affecting China's access to advanced US semiconductor products.
DeepSeek's recent development efforts include DeepSeek-V4.1-Flash, a model introduced in September 2026 with an emphasis on faster inference, improved processing capacity and scalability.
The reported fundraising also comes amid substantial investment by technology companies in AI infrastructure, including data centres, specialised processors and computing capacity required for training and operating increasingly complex models.
For China's AI industry, the investment represents another significant capital commitment to domestic technology development at a time when companies are seeking to reduce dependence on overseas suppliers.
However, details regarding the final investor allocations, the company's post-funding valuation and the precise deployment of the capital have not been publicly confirmed.
DeepSeek, CATL and Tencent had not provided immediate comments on the fundraising when Reuters sought responses.
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