The Hangzhou-based AI company is described as seeking to compete globally with Anthropic and OpenAI.
According to people familiar with the matter, DeepSeek increased its fundraising target at least twice during investor discussions: from 50 billion yuan to 80 billion yuan, before reaching the reported final total. Bloomberg names battery maker Contemporary Amperex Technology and Tencent, the operator of WeChat, among the round’s largest investors.
The report was published October 21, 2026. Bloomberg says its sources requested anonymity because the financing details are not public. The source does not establish the round’s valuation, its terms, how the proceeds will be used, or a public confirmation from DeepSeek or the named investors.