DeepSeek's round closes at about 105.5 billion yuan, with state investors holding 27%
DeepSeek's second funding round raised nearly $16 billion from close to 30 investors, The Information reported, and relays of its reporting put the total at 105.5 billion yuan and the near 615.5 billion yuan. Chinese state-owned investors took 27%. Tencent put in 10 billion yuan in each of the company's two rounds, CATL 5 billion across both and CATL's chairman, Zeng Yuqun, 10 billion personally. The chipmakers SMIC and CXMT, the phone maker vivo and the state carriers China Mobile and China Telecom are among the new names. DeepSeek has not confirmed any of it.
Last week's reports put the round at about 100 billion yuan, double its original 50 billion yuan target. The valuation figures conflict: Reuters reported about 500 billion yuan before the money, and the 615.5 billion figure is probably after it, though no source says so. Beijing's state funds are now direct owners of China's most important lab. SourcesBBCC
Sources
- BBehind DeepSeek's $16 Billion Funding: Chinese Tech Titans and State Players (The Information)theinformation.com
- BDeepSeek Raises Nearly $16 billion in Second Funding Round (The Information)theinformation.com
- CDetails of DeepSeek's 105.5 Billion Yuan Funding Round Revealed (PANews)panews.io
- CHengdian invested in Liang Wenfeng (36Kr)eu.36kr.com
This story ran in the Morning Brief of October 30th 2026.