DeepSeek has closed a new financing round of about 105.5 billion yuan at a post-money valuation of 615.5 billion yuan, according to multiple industry reports dated November 2, with nearly 30 investors participating.
The investor group spans semiconductors (SMIC, ChangXin Memory), telecom (China Mobile, China Telecom), consumer electronics (vivo), smart home appliances (Midea) and advanced manufacturing (Luxshare Precision, Geely), weaving a broad industrial ecosystem around the AI developer.
The reported round underscores continued capital confidence in China's homegrown large-model players even as global AI funding sentiment cools, and signals deeper integration between domestic compute, applications and the real economy.
Source: Industry roundup reports (Nov 2, 2026)
