It is reported that DeepSeek's financing is about to be completed: Liang Wenfeng invests 20 billion, Tencent invests 10 billion, and CATL invests 5 billion.

According to a report by Reuters on June 3rd, multiple sources familiar with the matter revealed that DeepSeek is on the verge of completing its first round of external financing since its establishment, aiming to raise approximately 50 billion yuan (equivalent to about $7.4 billion). The investors include Tencent and battery manufacturer CATL.

The sources said that after the completion of this round of financing, DeepSeek's post - investment valuation will reach 350 billion to 400 billion yuan (equivalent to about $52 billion to $59 billion). They requested anonymity due to the confidentiality of the information. This is the first time DeepSeek has opened its doors to external capital since its establishment.

DeepSeek gained global recognition in early last year with its V3 and R1 models, challenging the United States' existing perception of China's AI capabilities. The list of investors reflects China's accelerating efforts to build an independent AI industrial system from large - scale models to energy infrastructure.

01. Liang Wenfeng to Invest 20 Billion Yuan of His Own, Tencent and CATL to Invest 10 Billion and 5 Billion Yuan Respectively

According to sources familiar with the matter, Liang Wenfeng, the founder of DeepSeek, has committed to investing 20 billion yuan of his personal funds. Tencent is considering investing 10 billion yuan, and CATL plans to invest 5 billion yuan, which will make them the largest external investors in this round of financing.

In addition to the above - mentioned investors, DeepSeek is also in the final stage of negotiations with the National Artificial Intelligence Industry Investment Fund, NetEase, and JD.com. The sources said that the number of investors to be introduced in this round will be less than 10, and the entire round is expected to be completed in the next few weeks. However, they cautioned that the specific financial details may still change.

IDG Capital, based in Hong Kong, and investment institution Monolith Capital are also among the potential investors.

As of press time, DeepSeek, Liang Wenfeng, NetEase, JD.com, and the third phase of the National Integrated Circuit Industry Investment Fund (referred to as the "National Big Fund Phase III") have not immediately responded to requests for comment; Tencent and CATL declined to comment.

02. CATL Increases Investment in AI Data Center Power Supply, Tencent Leverages DeepSeek to Catch Up with Competitors

CATL, well - known as the leading supplier in the electric vehicle battery field, has recently extended into the AI data center field. As the demand for AI computing power drives up the need for large - scale and stable power, the company is exploring opportunities to provide power equipment and energy storage solutions. Its investment in DeepSeek echoes China's current efforts to achieve self - sufficiency in the entire AI chain from models to power supply.

On April 9th, CATL invested approximately 4.1 billion yuan to acquire a 49% stake in Zhongheng Electric, the leading company in the HVDC market of intelligent computing centers.

On May 13th, CenturyLink, an IDC company, announced that an affiliated capital party of CATL would invest approximately $942 million to acquire about 38.1% of the shares.

DeepSeek has taken steps to build its own data center and is recruiting data center engineers in Inner Mongolia. This may be one of the factors that attracted CATL's investment interest in DeepSeek.

The AI boom is bringing a sharp increase in power demand, and the competition in AI infrastructure has extended to infrastructure such as power and industrial equipment. CATL's energy storage and backup systems enable data centers to use more wind and solar power sources, making it a more attractive partner for DeepSeek.

Tencent has been promoting its self - developed AI model Hunyuan, but it lags behind domestic leading products such as ByteDance's Doubao and DeepSeek. Establishing a closer relationship with DeepSeek will help Tencent catch up with its competitors.

03. Conclusion: DeepSeek Will Face Governance Challenges After Introducing External Capital for the First Time

DeepSeek has always been known for its low - key approach since its establishment. This round of financing is the first time it has systematically introduced external shareholders.

If the financing is completed as scheduled within a few weeks, DeepSeek will rank among the highest - valued AI companies in China with a valuation of approximately 400 billion yuan. The presence of investors with different attributes such as Tencent, CATL, and the National Artificial Intelligence Industry Investment Fund not only shows the concentrated bet of capital on China's independent path of large - scale models but also means that DeepSeek, previously known for its technological independence, will start to face the challenge of balancing maintaining independence and meeting the demands of shareholders.

This article is from the WeChat official account "Zhidongxi" (ID: zhidxcom). Author: Chen Jia, Editor: Moying. Republished by 36Kr with authorization.