Did DeepSeek Raise $15 Billion From CATL and Tencent?
VerifiedDeepSeek is wrapping up a funding round of roughly $15 billion, about 100 billion yuan, with battery maker CATL and Tencent among its largest backers, Bloomberg and Reuters each reported separately on October 21-22, 2026, citing their own distinct groups of people familiar with the matter. Neither DeepSeek, CATL, nor Tencent has commented on the record, and some ancillary details, including a reported roughly $75 billion valuation and additional investors, rest on thinner single-source reporting. But the core figure and lead backers are corroborated by two independent, named wire services with no contradiction between them, so AI Ledger rates this claim Verified.
Frequently asked questions
Has DeepSeek confirmed the $15 billion figure?
No. As of this report, DeepSeek, CATL, and Tencent have not made any on-the-record statement confirming or denying the round. The figures come from anonymous sources cited separately by Bloomberg and Reuters.
Why is this rated Verified if DeepSeek itself hasn't confirmed it?
AI Ledger's methodology treats confirmation by two or more independent, named outlets as sufficient for a Verified rating, not only a company statement. Bloomberg and Reuters each cited their own separate sources for the roughly $15 billion figure and for CATL and Tencent's role as top backers, with no credible contradiction between the two accounts.
How does this compare to DeepSeek's earlier funding?
It's roughly double DeepSeek's first-ever outside round, about $7.4 billion closed in June 2026 at a roughly $50-52 billion valuation. Reports say this new round's target was raised at least twice during negotiations, from an initial 50 billion yuan to around 100 billion yuan (about $15 billion).
What is DeepSeek reportedly planning to do with the money?
Reports describe DeepSeek increasing spending on AI infrastructure, data centers, and open-source model development, and preparing for a possible IPO in China as early as 2027.