DeepSeek Expected to Raise $9.5 Billion in First Fundraising Round with Tencent and CATL as Major Investors

Chinese AI start-up DeepSeek is on track to secure approximately 50 billion yuan (S$9.5 billion) in its initial funding round with key investors being Tencent Holdings and CATL, according to sources familiar with the situation. The company’s post-fundraising valuation is anticipated to range between 350 billion yuan and 400 billion yuan, translating to about US$52 billion (S$66.5 billion) to US$59 billion. DeepSeek gained recognition as China’s national AI leader in early 2025 when its V3 and R1 models received acclaim in Silicon Valley, challenging American perceptions of China’s AI capabilities. DeepSeek’s founder, Liang Wenfeng, is personally committing 20 billion yuan…