DeepSeek reportedly closes a second funding round at a 615.5 billion yuan valuation
Nearly 30 investors, from Tencent to chipmakers and phone brands, reportedly backed the Chinese AI lab, which signals staying power for anyone building on its models.
The short version
- The round is reported at 105.5 billion yuan on a 615.5 billion yuan valuation.
- Nearly 30 investors took part, including Tencent, CATL, Changxin Memory and SMIC.
- Tencent put in 10 billion yuan again, for 20 billion yuan across two rounds.
- CATL and its chairman put in 10 billion yuan, up from 5 billion yuan in the first round.
- Earlier coverage of the raise was given in dollars, and the converted amount was slightly lower.
Why it matters
A raise of this size suggests DeepSeek expects to keep building models for years, which lowers the risk of the project fading out under teams that depend on it. It says nothing about future prices or licence terms, so keep a fallback model.
What was reported
DeepSeek has reportedly closed its second funding round, raising 105.5 billion yuan at a valuation of 615.5 billion yuan. As Zhibo8 reported on October 31, the details trace back to The Information, which published the round's size and part of the investor list.
One wrinkle: The Information's first report, on October 22, gave the raise in US dollars. Converted to yuan, that came out slightly below the 105.5 billion headline figure. We treat the numbers as reported, not confirmed.
Who put money in
Nearly 30 investors joined. Tencent and the battery maker CATL returned from the first round as the main backers.
- Tencent: 10 billion yuan, the same as round one, so 20 billion yuan in total.
- CATL and its chairman: 10 billion yuan combined, up from 5 billion yuan before.
- New industrial names: Changxin Memory (a memory-chip maker) and its founder, with chipmaker SMIC also on the list.
- Consumer and tech firms: vivo, Meituan, Midea, Luxshare, Geely, Trip.com and Xiaohongshu, each with smaller cheques.
- Finance and telecoms: China Mobile, China Telecom, CICC, CITIC Securities and China Life.
Why the mix of backers stands out
The list spans chip manufacturing, consumer electronics, internet services, telecoms and finance. That is a wide slice of the Chinese economy, and several of these firms make or sell products that could one day carry AI features.
The reports do not say what each investor expects in return, and nothing says how the money will be spent.
What to take from it
For people building on DeepSeek's models, the main takeaway is durability. Large, repeated backing from major platforms makes a sudden shutdown less likely.
It is not a promise about openness, pricing or licences. Those can change whatever the balance sheet looks like.
What to watch
- Whether DeepSeek or its investors confirm the amount and valuation directly.
- What the company says it will spend the money on.
- Whether the separately reported Hengdian-linked investment belongs to this round.
Try it
If your product depends on a DeepSeek model, check that your code can swap in another model, and test that fallback once this week.
Sources and links
- ReportingZhibo8: the article we sourced
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Listen to the daily showsFirst reported by Zhibo8 · Read the original. Written by the SI Agent News Desk from the reporting above.Written with AI from the source above. Every number is checked against the source. Spot a mistake? Corrections.