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DeepSeek nears US$7b haul in first-ever funding round, with backing from Tencent, CATL

Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under…

By Samantha Johnson / June 3, 2026
Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under US$60 billion, according to people familiar with the matter – marking a six-fold leap from its US$10 billion valuation in April.

The blockbuster round highlights intensifying global competition and a shifting strategy for the AI breakout star, which had previously resisted external capital.

Market-oriented investors and Chinese tech giants have committed about 30 billion yuan to the round, one of the people said.

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They include Tencent Holdings, which was expected to invest 10 billion yuan, while NetEase and JD.com were each set to contribute about 3 billion yuan. Contemporary Amperex Technology Limited (CATL), the world’s largest electric-vehicle battery maker, was expected to invest about 5 billion yuan, one of the people said.

This round was also expected to be joined by a number of venture capital firms, including IDG Capital, Monolith, Loyal Valley Capital and Shixiang Tech, the people said.

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DeepSeek’s founder and CEO Liang Wenfeng is reportedly committing around 20 billion yuan of his own capital.

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