China’s most-watched AI startup is moving closer to public markets after a record financing round. DeepSeek has started preparations for a mainland initial public offering, with a possible filing near the end of 2026 or early 2027.
DeepSeek Plans IPO Filing as Valuation Target Climbs
DeepSeek has begun talks with accounting and banking advisers as it prepares the documents needed for a public listing, Bloomberg reported. The Hangzhou-based company is working on financial reports that may be completed by the end of December.
The IPO plan remains at an early stage, and the timetable still carries caution. People familiar with the matter said the company “may file as soon as this year,” while the timing “could change” based on market conditions and company performance.
A 2026 filing would place DeepSeek on track for a possible market debut in 2027. The company is expected to pursue a mainland listing, which would make the planned offering one of China’s most closely watched technology deals.
DeepSeek Seeks Fresh Funds After $7B Round
DeepSeek is also weighing a private funding round just weeks after completing its first external financing. That round raised about $7 billion and valued the company near $52 billion, including the capital.
The latest talks target a pre-money valuation of 480 billion yuan, or nearly $71 billion. DeepSeek aims to raise at least 10 billion yuan in capital, though the final amount may rise if more investors join the round.
The startup wants more funding to expand computing capacity, data center access, and advanced AI development. AI companies need large amounts of computing power to train and run models, especially as they move into agentic AI systems.
DeepSeek has also been linked to efforts to develop its own AI chip. Such a move would help the company reduce reliance on outside chip suppliers while supporting long-term model training and cloud services.
China’s AI Champion Pushes Research Before Profit
DeepSeek rose to global attention after its V3 and R1 models drew praise for strong performance and lower reported training costs. The models challenged views that Chinese AI firms could not compete with leading U.S. labs under chip restrictions.
Founded in 2023, DeepSeek is owned by Zhejiang High-Flyer Asset Management. Its first financing round drew investors including Tencent, CATL, and China’s National Artificial Intelligence Industry Investment Fund.
Founder Liang Wenfeng has told potential investors that DeepSeek will focus on advanced AI research over near-term commercialization. The company also plans to keep developing open-source AI models while pursuing broader artificial general intelligence goals.
Source: Bloomberg
Liang’s wealth rose after the latest funding round. His net worth increased to about $36 billion from roughly $16.7 billion, placing him above several well-known AI model founders on billionaire rankings.
DeepSeek’s IPO preparations come as major AI firms move closer to public markets. OpenAI and Anthropic have reportedly filed confidential IPO documents in 2026, with possible listings depending on market conditions. The activity, just like the SpaceX IPO launch, shows growing investor interest in AI companies as firms seek capital for model training, data centers, and computing infrastructure.
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