Details of DeepSeek's 105.5 Billion Yuan Funding Round Revealed: Valuation of About 615.5 Billion Yuan, Nearly 30 Investors Participating

October 30: According to The Information, details of DeepSeek's second funding round have emerged. The round totaled 105.5 billion yuan (about $15.8 billion) and drew nearly 30 investors, corresponding to a company valuation of about 615.5 billion yuan. Tencent Holdings and CATL remain the two largest backers: Tencent invested 10 billion yuan in each of the two rounds; CATL and its chairman Zeng Yuqun invested 5 billion yuan and 10 billion yuan respectively in the two rounds. Industrial capital including ChangXin Memory Technologies, SMIC, vivo, Meituan, Geely Automobile, Midea Group, Luxshare Precision, Trip.com and Xiaohongshu also participated, with some single investors contributing 1 billion to 3 billion yuan.

Participation by state-owned capital has increased significantly. The China National Artificial Intelligence Industry Investment Fund invested another 1 billion yuan this round, the same as in the first round. Institutions including China Mobile, China Telecom, CICC, CITIC Securities and China Life also took part, with individual investments ranging from 2 billion to 8 billion yuan. People familiar with the matter said that continued price increases for Nvidia's high-end chips and concerns about a bubble in the AI industry were the reasons DeepSeek doubled its fundraising size midway through.

Previously, on October 22, Bloomberg reported that DeepSeek had completed a funding round of about 100 billion yuan, led by CATL and Tencent.