DeepSeek secures 1 trillion RMB in record-breaking industrial funding

A record-breaking capital injection

DeepSeek has successfully completed a financing round of approximately 1 trillion RMB, which is roughly 150 billion USD. As reported by eu.36kr.com, this transaction sets a new record for a single-round financing in the Chinese AI industry. The amount was actually increased during the process, moving from an initial target of 500 billion RMB to the final 1 trillion RMB figure.

The total capital raised by the company over the last six months now reaches about 1.5 trillion RMB. This reflects a high level of competition among various capital sources to secure a stake in the company. While the sum is large, the structure of the investment is what distinguishes it from typical venture capital trends.

The funding structure is unique because it combines a heavy personal stake from the founder with massive industrial support. Founder Liang Wenfeng personally contributed about 200 billion RMB in the first round, making him the largest single contributor. This setup allows him to maintain control over the company's strategic direction while providing the capital needed for growth.

The shift to industrial collaboration

The investor list for DeepSeek reveals a strategic shift toward what is being called "whole industrial chain collaboration." Rather than just seeking financial investors, the company attracted names like CATL, Geely Auto, and SMIC PE. These entities represent diverse industrial genes, ranging from battery manufacturing and automotive to semiconductor wafer production.

This move suggests that the next phase of AI competition in China may focus on industrial depth rather than just model parameters. By involving companies like CATL, which contributed about 50 billion RMB in the first round and plans for 100 billion RMB more, DeepSeek gains access to real-world applications. These include material R&D, intelligent manufacturing, and energy storage scheduling.

Furthermore, the inclusion of Stony Creek Capital and SMIC PE provides DeepSeek with systematic access to the domestic semiconductor industrial chain. This is particularly significant given the ongoing restrictions on high-end GPU access. The collaboration links storage, manufacturing, and model development into a single, cohesive domestic infrastructure.

Strategic resources and network effects

Major technology players are also participating in the funding to secure strategic resources and commercial pathways. Tencent contributed 100 billion RMB to become one of the largest external investors in the company. This allows DeepSeek to leverage Tencent's cloud computing power, traffic entrances, and various commercial scenarios while Tencent continues its own model development.

Other investors like IDG Capital and Lisi Capital reflect a broader market judgment that the Chinese AI track is still in a parallel development stage. These head investors are making multiple bets across different large model companies. This suggests that capital is currently prioritizing patience and diversification over betting on a single winner in the market.

The deal also creates a transmission chain for industrial investment and business collaboration. A-share listed companies, such as GigaDevice and Legend Holdings, will have indirect shareholdings in DeepSeek. This structure is designed to facilitate capital appreciation and business cooperation as the company moves toward its next milestones.

Path toward a public listing

DeepSeek is now preparing for a clear path toward an initial public offering (IPO). The company recently hired Yan Wentao as its CFO to manage the transition. It has already contacted CITIC Securities to prepare for a listing on the STAR Market, with an application expected as early as the end of the year.

This move is supported by recent policy changes in China. The China Securities Regulatory Commission extended listing standards to the AI large model sector in June 2026. This expansion allows for the listing of unprofitable enterprises, which opens a public market financing channel for the broader AI sector.

If DeepSeek successfully lists as the first AI large model stock, it could provide an exit path for patient primary market capital. It would also allow secondary market investors to participate in the technology race. This transition marks the move from private industrial backing to a public market framework for Chinese AI innovation.