Chinese artificial intelligence company DeepSeek has begun preparations for an initial public offering and could file listing documents as soon as this year, according to a Bloomberg report published on Tuesday.
The Hangzhou-based AI startup is planning a mainland China IPO, with a potential filing targeted for 2026 that could allow the company to debut publicly in 2027, Bloomberg reported, citing people familiar with the matter.
DeepSeek has started discussions with accounting firms and investment banks as it advances its IPO plans, according to the report.
The company is also seeking additional private funding ahead of a potential listing, shortly after completing a reported $7 billion financing round. Bloomberg reported that DeepSeek has begun talks with prospective investors for a new funding round targeting a pre-money valuation of at least 480 billion yuan, or about $71 billion.
That valuation would represent an increase from the approximately $50 billion valuation assigned to DeepSeek during its first external financing round, which closed in early June with participation from investors including Tencent Holdings (HKG:0700, OTC:TCEHY) and Contemporary Amperex Technology Co., according to Bloomberg.
DeepSeek is seeking to raise at least 10 billion yuan in additional capital, though the final amount could be significantly higher depending on investor interest, the report said.
The IPO timeline and fundraising discussions remain subject to change and could be affected by market conditions and the company’s future performance, according to the report.
Bloomberg also reported that DeepSeek founder Liang Wenfeng has become one of the world’s wealthiest AI entrepreneurs, with his net worth reaching about $36 billion.