DeepSeek Raises $15 Billion Ahead of Planned Shanghai IPO
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Chinese artificial intelligence (AI) startup DeepSeek has raised $15 billion in its second private funding round and is accelerating plans for a Shanghai listing in early 2027, potentially reaching public markets before OpenAI . Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content - no additional logins required. yes Subscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. Δ The financing nearly doubled its original target amid strong investor demand, The Wall Street Journal reported Thursday (Oct. 22), citing people familiar with the matter. DeepSeek was valued at approximately $74 billion before the round closed. The financing comes as investors question whether AI companies can turn rising infrastructure spending into sustainable profits. DeepSeek founder Liang Wenfeng told investors in September that the company's annualized revenue run rate had reached $1 billion, according to the Journal. That represents more than double the $400 million to $500 million annualized revenue reported in July, driven largely by cloud-based access to its models through application programming interfaces, PYMNTS reported. We'd love to be...
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