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DeepSeek is reportedly close to raising at least 80 billion yuan, which Bloomberg News rendered as US$12 billion and Reuters rendered as US$11.93 billion. Both reports, published October 6, 2026, cite unnamed sources; neither establishes a public company confirmation or final financing terms.
How much is DeepSeek reportedly raising?
Bloomberg News, in reporting carried by The Business Times, says DeepSeek is close to securing at least 80 billion yuan, or US$12 billion in that outlet’s conversion. Reuters separately reports more than 80 billion yuan, or US$11.93 billion in its account. The yuan figure is common to both reports; the small difference in dollar values reflects their separate conversions, not a confirmed transaction amount in US dollars.
These are reported fundraising figures, not audited totals or a completed financing announcement. The reports attribute the amount to people familiar with the matter, and final terms were not established publicly in the reviewed coverage.
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What is reported about Tencent and other investors?
Tencent Holdings and Contemporary Amperex Technology (CATL) are reported to be among the largest participants or to have committed among the largest amounts. Neither report gives either company’s individual contribution, so the scale of Tencent’s participation cannot be determined from the available accounts.
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“Tencent-backed” describes reported participation in the fundraising; it should not be read as a company-confirmed commitment or as evidence that Tencent is leading the round.
How does the reported amount compare with the original target?
Bloomberg and Reuters both describe an original fundraising target of about 50 billion yuan. Bloomberg says signed term sheets could put the final tally near 100 billion yuan, while Reuters says commitments have exceeded the original target. These are accounts of fundraising progress, not final closing figures.
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| Stage or figure | What the October 6 reports say |
|---|---|
| Original target | About 50 billion yuan, reported by Bloomberg News via The Business Times and separately by Reuters. |
| Reported current threshold | At least or more than 80 billion yuan; Bloomberg’s account renders this as US$12 billion, while Reuters renders it as US$11.93 billion. |
| Possible final tally | Near 100 billion yuan, based on signed term sheets, according to Bloomberg News via The Business Times; this is not a confirmed closing amount. |
What valuation and IPO timing have been reported?
Reuters says the fundraising began in July with a target valuation of 500 billion yuan, approximately US$74 billion in Reuters’ report. Bloomberg’s article describes an early 2027 IPO as a possible milestone. Both details are attributed to unnamed sources; the reports do not establish a formally set IPO timetable or a public company announcement.
Has DeepSeek confirmed that the round has closed?
No public confirmation or final terms are established by the reviewed reports. As of the October 6, 2026 coverage, Bloomberg described the round as close to completion and Reuters said it was expected to wrap up in October. Those statements are reports of an anticipated timetable, not confirmation that the financing subsequently closed. The final amount and individual investor commitments remain unestablished in those accounts.
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