- DeepSeek has reportedly raised about $15 billion (roughly 100 billion yuan) in one of China’s largest funding rounds to date, Bloomberg reported.
- The round lands just two days after the US Department of Homeland Security ordered civilian federal agencies to remove DeepSeek’s technology from their systems over security concerns.
- Reported investors include Chinese battery maker CATL and Tencent, following a June round that raised more than $7 billion at a $50 billion valuation.
- Founder Liang Wenfeng retains an estimated 81.6% stake in DeepSeek‘s Chinese operating entity, according to ownership data analyzed by WireScreen.
What Happened
DeepSeek has raised approximately $15 billion in a new funding round, one of the largest in China’s history, TechCrunch reported on October 22, 2026, citing Bloomberg. The raise comes two days after the US ordered federal civilian agencies to strip DeepSeek software from their systems.
Why It Matters
The round extends a funding trajectory that began with a reported $10 billion round tied to Liang’s AGI ambitions and a June raise of over $7 billion at a $50 billion valuation. It shows investors continuing to back the Hangzhou lab even as Washington restricts its access to the US government market.
Technical Details
DeepSeek was reportedly seeking an additional $1.5 billion at a roughly $71 billion valuation as of July, with plans floated for a China IPO as early as next year. The $15 billion figure would value the company well above that July mark, though neither DeepSeek nor its investors have confirmed exact terms.
Who’s Affected
The round intensifies competition among Chinese AI labs: Moonshot AI secured $2 billion at a $20 billion valuation in May, Manus AI raised more than $500 million this month, and Hong Kong-listed Zhipu AI and MiniMax carry market capitalizations of roughly $29 billion and $7.2 billion, respectively.
What’s Next
DeepSeek is reportedly ramping spending on AI infrastructure and open models for both domestic and international markets despite the US restrictions. DeepSeek did not immediately respond to TechCrunch’s request for comment on the round.
