DeepSeek IPO Preparation
Chinese artificial‑intelligence startup DeepSeek, based in Hangzhou, has begun preparations for a mainland initial public offering. Bloomberg reports that the company intends to file its IPO prospectus in 2026, which could lead to a market debut in 2027, subject to the readiness of its audited financial statements.
DeepSeek is actively engaging accounting firms and banking advisors to complete its financial reporting, with a target to finish the financial report by the end of December 2026, a prerequisite for the filing.
In parallel with the IPO plan, DeepSeek is pursuing a private‑market fundraising round. The company aims to raise at least 10 billion yuan and is seeking a pre‑money valuation of no less than 480 billion yuan, equivalent to roughly US$71 billion. This valuation marks an increase from the approximately US$50 billion valuation assigned in its first external financing round, which closed in early June 2026 and included investors such as Tencent Holdings and Contemporary Amperex Technology Co. The new raise could ultimately be several times larger than the minimum target, depending on investor participation.
Both the timing of the IPO and the size of the private raise remain fluid; execution will depend on prevailing market conditions and DeepSeek’s operational performance.
For context, Bloomberg noted that U.S. AI firms Anthropic and OpenAI filed confidential IPO registrations in June 2026, targeting valuations up to US$1 trillion, though market volatility may delay their listings to 2027. Additionally, Elon Musk’s SpaceX, through its xAI subsidiary, completed a historic IPO on 12 June 2026, raising US$86 billion.