On October 22, 2026, Reuters reported that DeepSeek’s latest funding round was about 100 billion yuan ($14.98 billion). Reuters said fundraising was expected to finish in the coming days and that the financial details and investor lineup could change.
Reported amount, investors, and valuation
Reuters put the reported round at roughly twice its initial 50 billion yuan target. It named Tencent and CATL, both existing DeepSeek shareholders, among the largest investors. Other reported participants included GigaDevice, Meituan, Geely, Midea, NetEase, Boyu Capital, CPE, Legend Capital, and IDG Capital. Reuters said more than 15 investors were involved.
The same account attributed a 500 billion yuan pre-money valuation to sources familiar with the matter. A pre-money valuation is the estimated value of a company before new financing is added. The reported funding amount measures the scale of the financing, not the performance of DeepSeek’s AI models.
Revenue and run-rate figures describe different measures
DigitalToday reported on August 26, citing The Information, that DeepSeek had revenue of 475 million yuan and a net loss of 715 million yuan from January through July 2026. The figures were reported as non-audited.
On September 24, Reuters reported that The Information put DeepSeek’s annualized revenue run rate at about $1 billion. A run rate annualizes a revenue pace; it is a different measure from revenue recorded over the January-to-July period.
How the reported round compares with earlier funding
Reuters also reported that DeepSeek raised $7.4 billion in its first external funding round in June 2026, a separate financing. On October 7, NeoTeo reported a target of at least 80 billion yuan in its earlier coverage of DeepSeek’s fundraising target.
