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Chinese artificial intelligence startup DeepSeek is moving closer to a public listing in mainland China while pursuing another major private fundraising round that could value the company at more than 480 billion yuan ($71 billion), according to a Bloomberg News report citing people familiar with the matter.
The Hangzhou-based AI company has reportedly started preparations for an initial public offering (IPO) and is aiming to file listing documents as early as this year. If the timeline remains on track, DeepSeek could make its stock market debut in 2027, further strengthening its position in China's rapidly growing AI sector.
Bloomberg reported that DeepSeek has begun working with accounting and investment banking advisers as part of the IPO planning process. The company is also preparing its financial statements, with completion targeted by the end of December—a key requirement before submitting an IPO application. Depending on the timing of the audit, the filing could ultimately take place near the end of 2026 or in early 2027.
At the same time, DeepSeek is reportedly seeking fresh private capital only weeks after completing a record-breaking $7 billion external funding round. The new financing is expected to target a pre-money valuation of at least 480 billion yuan, significantly higher than the roughly $50 billion valuation achieved during its previous fundraising.
According to the report, the AI startup aims to raise at least 10 billion yuan in the upcoming round, although the final amount could increase if investor demand proves strong. Sources cautioned that negotiations are ongoing, meaning both the fundraising size and IPO schedule remain subject to change.
The latest developments underscore growing investor confidence in China's artificial intelligence industry as competition intensifies among AI developers worldwide. DeepSeek has emerged as one of the country's most closely watched AI companies, attracting significant investor interest following its rapid expansion and recent financing success.
The Financial Times first reported DeepSeek's latest fundraising discussions, while Bloomberg separately revealed details of the company's IPO preparations.
