DeepSeek nears $12 billion funding round led by Tencent and CATL

DeepSeek is set to raise at least 80 billion yuan ($12 billion) in a round led by Tencent and CATL, above its initial 50 billion yuan target, Bloomberg reported. The company is preparing for a stock market debut in early 2027 and has engaged CITIC Securities for a possible Shanghai STAR Market listing.