DeepSeek reportedly raises $15B with CATL and Tencent participating
Bloomberg reports DeepSeek closed roughly $15B (about 100 billion yuan) days after US restrictions, with CATL putting in around $1.5B and Tencent following on, against an annualised revenue near $1B, with funds going to compute and next-generation model R&D.
Bloomberg reported on October 22 that DeepSeek closed a round of roughly $15 billion, about 100 billion yuan, within days of US restrictions being applied. CATL reportedly put in around $1.5 billion and Tencent followed on, at a pre-money valuation near 500 billion yuan.
Annualised revenue is about $1 billion, meaning the single round equals roughly 15x that figure. The round landing so quickly after external restrictions drew attention, with the market broadly reading it as compliance risk already priced into the terms.
Funds are reported to go mainly to compute procurement and next-generation model R&D. As of publication DeepSeek had not issued a formal statement and the investor list follows media reporting.