DeepSeek has reportedly raised about $15 billion, or about 100 billion yuan, in one of China’s biggest funding rounds. The reported deal comes just two days after the U.S. ordered federal civilian agencies to remove DeepSeek’s AI technology from their systems over security concerns.
A major round amid restrictions
Bloomberg reported the fundraising. Potential investors include Chinese battery maker CATL and Tencent, the company behind WeChat, among others. DeepSeek did not immediately respond to a TechCrunch request for comment.
The timing puts two contrasting developments side by side: a U.S. restriction on the company’s technology and a reported influx of capital. The source does not say that the restriction caused the fundraising, or that the new money changes the agencies’ order. It does describe DeepSeek as continuing to expand while facing restrictions in the U.S.
DeepSeek’s recent fundraising and ambitions
The reported $15 billion round follows an investment round in June, when DeepSeek raised more than $7 billion at a valuation of $50 billion. In July, the company was reportedly seeking another $1.5 billion at a valuation of around $71 billion, with plans for a potential IPO in China as early as next year.
The company is ramping up spending on AI infrastructure and open models for domestic and international markets, according to the report. That focus links its fundraising to the resources needed to develop and distribute AI models. Its expansion could also intensify competition among domestic rivals.
China’s AI funding race
DeepSeek’s reported round is part of a broader pattern of investors committing billions to AI companies around the world, including in China. The article points to several other Chinese firms raising capital or attracting substantial market valuations.
- Moonshot AI, the developer of Kimi, secured $2 billion at a #20 billion valuation in May.
- Manus AI raised more than $500 million earlier this month.
- Zhipu AI (Z.ai) and MiniMax both went public in Hong Kong in January. As of today, their market capitalizations were roughly $29 billion and $7.2 billion, respectively.
These examples show the scale of investment and competition surrounding Chinese AI companies. DeepSeek’s reported financing would add to that momentum, while its plans for infrastructure and open models suggest it aims to compete in both domestic and international markets.
From early backing to global attention
DeepSeek was founded in 2023 by Liang Wenfeng, who previously co-founded Chinese quantitative hedge fund High-Flyer. High-Flyer helped finance DeepSeek’s early development. The startup gained global attention in early 2025 with its free-to-use, open-weight RI reasoning model, challenging the dominance of U.S. AI companies.
Liang still retains an estimated 81.6% stake in DeepSeek’s Chinese operating entity following its earlier funding round, according to corporate ownership data analyzed by WireScreen. That ownership detail provides context for the company’s earlier financing history, even as the reported new round points to a much larger pool of potential outside investment.
The reported $15 billion raise would be a consequential step for a company seeking to scale its AI infrastructure and models while navigating U.S. restrictions. The report does not detail the round’s terms or confirm which potential investors will participate, leaving those elements unresolved.