DeepSeek Raises 105.5 Billion Yuan, Valuation Approximately 615.5 Billion Yuan with Nearly 30 Investors Participating

DeepSeek's second round of financing reached 105.5 billion yuan, attracting nearly 30 investors, with a valuation of approximately 615.5 billion yuan. Tencent Holdings and CATL were the main investors, with Tencent contributing 10 billion yuan in both rounds, and CATL and its chairman Zeng Yuqun investing 5 billion yuan and 10 billion yuan, respectively. Other industrial capital participants included Changxin Storage, SMIC, vivo, Meituan, Geely Automobile, Midea Group, Luxshare Precision, Trip.com, and Xiaohongshu, with some single investments ranging from 1 billion to 3 billion yuan. The participation of state-owned capital has significantly increased, with the China National Artificial Intelligence Industry Investment Fund investing another 1 billion yuan. Institutions such as China Mobile, China Telecom, CICC, CITIC Securities, and China Life participated, with individual contributions ranging from 2 billion to 8 billion yuan. According to insiders, the rise in prices of high-end chips from NVIDIA and concerns about an AI industry bubble led DeepSeek to double its fundraising target. Previously, on October 22, Bloomberg reported that DeepSeek had completed approximately 100 billion yuan in financing, led by CATL and Tencent.