DeepSeek Targets $71 bn Valuation and China IPO
Chinese artificial‑intelligence startup DeepSeek, based in Hangzhou, is preparing to file for an initial public offering on the mainland China market as early as later this year, with a view to a market debut in 2027, according to Bloomberg. The company has engaged accounting and banking advisers and aims to complete its audited financial statements by the end of December, a prerequisite for filing; listing documents could be submitted near the end of 2026 or in early 2027 depending on when the statements are finalised.
Simultaneously, DeepSeek is in discussions with prospective investors for a new private‑fundraising round that would value the company at a pre‑money level of at least 480 billion yuan (approximately $71 billion), up from roughly $50 billion in its prior round. The company is seeking to raise a minimum of 10 billion yuan, though the final amount may increase based on investor demand. This follows a record $7 billion first external financing completed only weeks earlier. Bloomberg notes that both the fundraising and IPO timelines remain subject to change as discussions are ongoing.
The fundraising effort was first reported by the Financial Times, while Bloomberg separately reported the IPO preparations.