DeepSeek round doubles to 100B yuan: reports

DeepSeek's second funding round has doubled to 100 billion yuan and is close to done, the Chinese magazine Caijing reported. The Seoul Economic Daily carried the report on the 14th of October 2026.

DeepSeek has not announced the round. Tencent and the battery maker CATL committed among the largest amounts, Bloomberg News reported on the 6th of October.

Bloomberg on the 6th of October: at least 80 billion yuan

DeepSeek was close to raising at least 80 billion yuan, about 11.93 billion dollars, Reuters wrote, citing Bloomberg. Reuters said it could not verify the report, and DeepSeek did not reply.

A first round raised 50 billion yuan in June, Caijing reported.

SMIC, GigaDevice and Geely join, at a 500 billion yuan target

New investors include the chipmakers SMIC and GigaDevice and the carmaker Geely, Caijing reported. DeepSeek aims for a value of 500 billion yuan, according to the magazine.

The tech site 36Kr listed more new names on the 13th of October, citing the magazine Caixin. CATL, Tencent and IDG Capital put money in before, 36Kr wrote.

Below we break down the yuan figures in dollars

Reuters turned 80 billion yuan into 11.93 billion dollars. At that rate, 100 billion yuan is about 14.9 billion dollars, by our arithmetic.

A value of 500 billion yuan would be about 74.6 billion dollars, by the same arithmetic.

The Information: revenue passed 1 billion dollars a year after API prices rose

DeepSeek's yearly revenue passed 1 billion dollars, up from 500 million months earlier, The Information reported, as cited by the Seoul Economic Daily. Its API prices rose two to four times in August, the report said.

The API is the paid door developers use to reach a model. From January to July, DeepSeek kept 82.9% of API sales as gross profit, The Information reported.

What is confirmed and what is not

DeepSeek, Tencent and CATL have not confirmed any figure. Bloomberg's own story sits behind a paywall, so its numbers come here through Reuters.

36Kr's English headline says 100 billion yuan, while its text says 1 trillion at a 5 trillion value. The text is 10 times every other report.

Key facts

Caijing, reported on the 14th of October 2026: a round of 100 billion yuan.

Bloomberg, the 6th of October: at least 80 billion yuan, about 11.93 billion dollars.

DeepSeek aims for a 500 billion yuan value, Caijing reported.

DeepSeek has not commented.