CNBC reported DeepSeek's latest funding round could reach $15B.
Following·Day 2·first covered 6 Oct 2026·2 sources
DeepSeek Raising $12, 15B at $71B Valuation
The gist
A raise at $71 billion would represent a significant step up from DeepSeek's prior valuation and channel billions into domestic Chinese AI hardware infrastructure. The round signals continued investor appetite for Chinese AI at scale.
The full picture
DeepSeek is close to closing a fundraising round of at least $12 billion, above its own fundraising target, at a possible $71 billion valuation. Signed term sheets could push the total to nearly $15 billion. The valuation would be up from roughly $52 billion after its first outside round. The capital will fund hardware purchases, including at least 160,000 Huawei Ascend 950DT accelerators for a data center in Inner Mongolia. Demand for the round surged after DeepSeek's V4 Flash model launch. Tencent Holdings and CATL committed roughly $1.5 billion and $740 million respectively in the first outside round, and founder Liang Wenfeng put approximately $3 billion of his own money into that round.
How it developed
Bloomberg reported DeepSeek is close to raising at least $12B at a possible $71B valuation, with term sheets potentially lifting the total to $15B.
Sources
Rohan Paul Twitter
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