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

DeepSeek raises at least RMB 80B, eyes early-2027 IPO

KEY FACTS

  • Bloomberg reports DeepSeek's new round has locked in at least RMB 80 billion, far above its original RMB 50 billion target.
  • CATL and Tencent are the investors committing the largest amounts in this round.
  • DeepSeek launched its first external funding in April this year and closed a RMB 51 billion first round in June.
  • The company has engaged CITIC Securities as advisor and plans to list on the STAR Market, targeting an early-2027 debut.
  • DeepSeek plans to deploy at least 160,000 Huawei AI accelerators in Inner Mongolia to build a data center.

KEY DATA

at least RMB 80 billionThis round's raise
RMB 51 billionFirst round's raise
about RMB 500 billionTarget valuation
RMB 475 millionRevenue in first seven months

PHYSIX OBSERVATION

From no fundraising to a hundred-billion-scale sprint, DeepSeek's turn shows the AGI race has become a capital endurance contest. Tencent and CATL are buying into AI infrastructure and ecosystem positioning. But with a net loss of RMB 715 million in the first seven months, commercialization remains a question that must be answered before the IPO.

Source: TMTPost report