DeepSeek closes roughly $15 billion round led by Tencent and CATL ahead of possible Shanghai IPO
DeepSeek
DeepSeek wrapped a funding round of about RMB 100 billion (roughly $15 billion), reported October 22, 2026, with Tencent and battery maker CATL among the largest participants and a possible Shanghai STAR Market listing to follow. The target was reportedly raised twice, from RMB 50 billion to RMB 80 billion, before settling at the final amount. DeepSeek has not publicly confirmed the raise.
Why it matters
It gives DeepSeek a war chest on the scale of US frontier labs, at a time when Washington is pushing the company out of federal systems.
Importance: 4/5
largest AI funding round reported outside the US