As of October 7, 2026, reports point to two major Chinese AI funding developments: DeepSeek was expected to raise more than 80 billion yuan, while Moonshot AI was reported to have completed a private round at a valuation of about $50 billion. Both companies were reported to be targeting public listings in 2027, but neither IPO had been completed or confirmed by a filing in the reporting reviewed.
What DeepSeek is reportedly raising
Bloomberg News reported on October 6, 2026, that DeepSeek was close to raising at least 80 billion yuan, about $12 billion, with Tencent and CATL among the largest contributors. Bloomberg said the total could approach 100 billion yuan if signed term sheets became commitments. The financing was still closing, according to people familiar with the matter cited by the report; the higher figure was a possibility, not a confirmed final amount. Bloomberg News
Reuters reported the same day that DeepSeek was set to raise more than 80 billion yuan, which Reuters rendered as about $11.93 billion. It said the financing exceeded an initial 50-billion-yuan target and was expected to close in October, citing people with knowledge of the matter. Reuters also noted that Bloomberg had reported the round first. These are reported expectations, not confirmation that the funds had been received or that the final total was settled. Reuters
Moonshot AI’s reported valuation and Hong Kong target
Bloomberg reporting republished by Yahoo Finance said Moonshot AI had closed its final private fundraising round at a valuation of about $50 billion and was heading toward a Hong Kong IPO in the first quarter of 2027. The account attributed the information to people familiar with the matter. The reported valuation is a private-round figure, not a public-market capitalization, and the IPO timing remained a target rather than a completed listing. Yahoo Finance
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What is known about the IPO plans
Bloomberg described an early-2027 IPO as part of DeepSeek’s plan, while Reuters said the company was building a capital reserve ahead of a domestic IPO. The reports do not establish that DeepSeek had filed to list. Moonshot’s reported target was a Hong Kong listing in Q1 2027, but the reporting likewise does not establish a filing or completed IPO. Bloomberg News and Reuters attribute these plans to unnamed sources familiar with the companies.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the U.S. comparison should be read
The funding reports add evidence of substantial investor interest and capital formation around Chinese AI companies. They do not show that China has caught or surpassed the United States in AI model capability, access to compute, or commercial adoption. Funding size and private valuation are not direct measures of those outcomes.
For context, CoinDesk reported on October 6, 2026, that OpenAI planned to raise at least $30 billion at a $1.4 trillion pre-money valuation, and that Anthropic was considering a November IPO at a potential valuation around $2 trillion. These, too, are reported prospective figures, not completed financing or a completed listing; the details are CoinDesk’s reporting and are not independently confirmed by the other reports cited here. CoinDesk
A meaningful comparison of U.S. and Chinese AI firms would need like-for-like evidence on capital raised and its status, public versus private valuation, filed versus merely planned IPOs, model performance on comparable evaluations, compute and hardware access, and revenue and adoption. The reports discussed here substantiate financing, valuation, and possible listing plans—not a technical-leadership ranking.
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