DeepSeek nears ~$15B round at $74B pre-money valuation, double its original target
2C_ornot2C · x · 2026-10-24
Reuters reports DeepSeek is closing one of the largest funding rounds in Chinese history: about ¥100 billion ($15B) at a ¥500 billion ($74B) pre-money valuation — double the original ¥50B target as demand poured in.
- CATL and Tencent are the largest investors, with Geely also participating, ahead of a possible Shanghai listing.
- Most of the capital is expected to go toward compute, signaling China's AI race is now funded at US scale.
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