DeepSeek is reportedly nearing a funding round of 80 billion yuan or more, a sum yellow.com converts to about $12 billion. Nothing has closed, DeepSeek has announced no round, and every figure comes from unnamed people the outlet describes as familiar with the talks. None of the companies had replied to requests for comment.
The same account says the round began with a target near 50 billion yuan, and that signed term sheets could lift the total toward 100 billion yuan. Tencent and CATL are named among the investors. CATL makes batteries, so a battery maker backing an AI lab would be an unusual pairing if the report holds. Yellow.com adds that the two put 10 billion yuan and 5 billion yuan into June’s earlier round.
The report ties the money to an eventual domestic listing. CITIC Securities has reportedly been engaged for a possible STAR Market debut, which one account places in early 2027; timing, valuation and size were still undecided.
The story is single-sourced to yellow.com; the piece carries no corroboration from a second outlet. Until DeepSeek or a named investor confirms, treat the sums as a range, not a valuation to price against.
Reported by Ester Shlain for yellow.com, published 6 October 2026.
