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Physix Frontier · News Briefing Card (IT Home · Oct 6, 2026)

DeepSeek raises at least RMB 80B, Tencent and CATL lead

KEY FACTS

  • Bloomberg reports that DeepSeek's new funding round is nearing completion, with at least RMB 80 billion raised.
  • CATL and Tencent are the largest investors in this round, and the deal is expected to close soon.
  • DeepSeek's original fundraising target was about RMB 50 billion, but the final total could approach RMB 100 billion.
  • This round paves the way for the IPO DeepSeek plans to launch in early 2027.
  • DeepSeek is building a data center in Inner Mongolia and plans to deploy at least 160,000 Huawei AI accelerator chips.

KEY DATA

At least RMB 80 billionThis round's size
About RMB 50 billionOriginal fundraising target
Could approach RMB 100 billionUpper limit of total funding
About RMB 500 billionOriginal target valuation

PHYSIX OBSERVATION

RMB 80 billion far exceeds the original target, showing that competition for the leading domestic large-model asset has reached a fever pitch. Tencent is filling out its ecosystem, while CATL is betting on compute hardware; industrial capital is replacing purely financial investment. DeepSeek is building a cluster with Huawei chips, and if it works, the domestic compute narrative will move from substitution to scale validation - that is more worth watching than the financing itself.

Source: IT Home report

DeepSeek raises at least RMB 80B, Tencent and CATL lead | Physix Frontier Briefing