DeepSeek nears $7.4 billion round at $74 billion valuation

DeepSeek is finalizing a roughly 50 billion yuan ($7.4 billion) funding round that values the company at about $74 billion pre-money, up from just over $50 billion after its June 2026 round, with the raise expected to close by the end of August 2026. Returning backers include Monolith Management, Shixiang Capital, Tencent, and CATL, with proceeds earmarked for compute buildout and model research. The round is widely seen as preparation for a potential Shanghai STAR Market filing as early as late 2026, ahead of a targeted 2027 public debut.