# DeepSeek's $12B round puts Tencent and CATL behind a 2027 IPO

> DeepSeek is reportedly finalising a round of at least $12 billion ahead of a Hong Kong IPO.

*Bloomberg reports the Chinese AI lab is finalising at least 80 billion yuan from strategic backers before a planned Hong Kong listing.*

By Bez · InsidersFeed
Canonical: https://insidersfeed.com/news/deepseek-s-12b-round-puts-tencent-and-catl-behind-a-2027-ipo

A round of at least $12 billion would make DeepSeek one of the best-funded AI labs in China before it ever lists. Bloomberg reported on 6 October that the company is finalising the raise, according to [AI Weekly's summary of the report](https://aiweekly.co/alerts/deepseek-nears-12b-round-with-tencent-catl-before-2027-ipo).

The round is at least 80 billion yuan, roughly $12 billion. Bloomberg said the final total could approach 100 billion yuan.

Tencent and battery maker CATL are among the biggest backers, per the report. One is an internet and platform giant, the other an industrial manufacturer. Their presence on the cap table suggests DeepSeek is drawing capital from outside the usual venture pool.

The funding is a run-up to a public offering. DeepSeek is preparing a Hong Kong IPO, with a target of Q1 2027, according to Bloomberg.

None of this is confirmed. All the details come from Bloomberg's report as relayed by AI Weekly, and no confirmation from DeepSeek, Tencent or CATL was found.

## The Insider view

If the numbers hold, DeepSeek enters its listing with a large balance sheet and strategic shareholders already in place. A raise of this size ahead of an IPO would give public-market investors a priced reference point, and it would set expectations for the valuation at listing.

Tencent and CATL gain a stake in a lab that has drawn attention in the AI race. Smaller domestic rivals that need capital are the most exposed if a single round pulls this much money toward one company. Watch for official confirmation, the final size of the round, and whether the Q1 2027 Hong Kong timetable survives.

## Key takeaways

- DeepSeek is reportedly closing a round of at least $12 billion, or 80 billion yuan.
- Tencent and battery maker CATL are reported among the biggest backers.
- A Hong Kong IPO is targeted for Q1 2027; nothing is company-confirmed.

## Sources

- [DeepSeek nears $12B round with Tencent, CATL before 2027 IPO](https://aiweekly.co/alerts/deepseek-nears-12b-round-with-tencent-catl-before-2027-ipo) — AI Weekly (citing Bloomberg), 2026-10-06