Fifteen billion, people familiar say

The stamp at the top of this IT Home page is 2026/10/23 11:50:10. The article, dated October 23, retells a Wall Street Journal account from local time on the 22nd, and that account cites people familiar with the matter. In that account, DeepSeek closed a second private round and raised 15 billion dollars. Strong demand pushed the round to nearly twice the original target. The 15 billion dollars, the near-doubling, and the valuation and revenue that follow all stay at the level of people familiar with the matter. This page does not print a confirmation from the company. Yuan conversions printed on the page are left out of this story.

Those people say DeepSeek is pushing a first public offering and is trying to list in Shanghai early next year. If the listing goes smoothly, it could reach the market before OpenAI and Moonshot. Trying, and the condition that it goes smoothly, are not a completed listing. People involved in the round put the valuation at about 74 billion dollars before the round closed. CATL and Tencent invested again after the previous round. The round ran from July through October and took longer than other recent artificial-intelligence financings. The dates and the valuation are attributed to people familiar with the matter, not to an exchange filing.

The new investors are named by those people. 石溪资本 is a private-equity firm focused on semiconductors. 君联资本, which the page says is backed by Lenovo, and the automaker Geely also joined. A separate earlier report says existing holders 砺思资本 and 拾象资本 added more in this round. That earlier report is not the same sentence as the people familiar with this round, so the added money is not written here as a list the company has announced. The same account says the company hired 中信证券 as the offering adviser and in September named 严文韬, who had worked in venture capital, chief financial officer. The adviser and the appointment stay inside that retelling.

The revenue figure is a retelling too. Founder Liang Wenfeng told investors in September that, at the revenue level then, annualized revenue was 1 billion dollars. The page adds that annualized revenue is a measure for subscription businesses. The 1 billion dollars is not an audited number on this page, and it is not proceeds from a finished listing. Later, the page says some investors are questioning whether large capital spending can keep producing profit, and whether rising valuations are reasonable. That is the page's description of investor mood. It does not turn the earlier amounts into a company announcement. Related items at the bottom, about an open-source framework, a search interface, and outage credits, are other stories and are not folded into this round.