A Chinese artificial intelligence startup, DeepSeek, is preparing to file for an initial public offering on China’s mainland market as early as this year, while also seeking fresh private funding at a valuation of at least 480 billion yuan ($71 billion), Bloomberg reported on Wednesday, citing informed sources.
The Hangzhou-based company has initiated planning for a mainland listing and intends to submit an IPO application by the end of this year, which could pave the way for a stock exchange debut in 2027, according to Bloomberg. The firm has also started discussions with accounting and banking advisors as part of its preparations for the offering.
According to Bloomberg, DeepSeek is simultaneously negotiating with potential investors for a new round of private financing—just weeks after completing a record-breaking first external round of $7 billion. The new round implies a pre-investment valuation of at least 480 billion yuan, exceeding the approximately $50 billion valuation from the previous funding round.
Based on available information, the company aims to raise at least 10 billion yuan, though the final amount could increase depending on investor demand. Bloomberg cautions that negotiations are ongoing and that the timelines for both the funding round and the IPO could shift.
DeepSeek is working with accounting firms to finalize its financial statements by the end of December—a prerequisite for filing the IPO application, Bloomberg reports. The company may submit its listing documents in late 2026 or early 2027, depending on when the financial reporting is completed.
The Financial Times was the first to report on the latest funding discussions, while Bloomberg separately disclosed the company’s IPO preparations.
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