The Chinese start-up is also reportedly discussing plans for a new fundraising round ahead of the IPO, just weeks after it raised more than $7bn.
Chinese AI company DeepSeek has reportedly begun preparing for an initial public offering (IPO) and may file as early as this year, according to Bloomberg and the Wall Street Journal (WSJ).
The publications, which both cited anonymous sources familiar with discussions on the matter, said that the company has targeted a filing for later this year, which would allow it to debut a listing in Shanghai next year. The WSJ reported that the debut could be as early as the second quarter of 2027.
DeepSeek’s plans for an IPO come after US rival Anthropic filed for its own IPO at the start of last month, followed by fellow US AI giant OpenAI confidentially filing to go public – although recent reports suggest the latter is considering delaying its IPO to 2027.
According to the reports, DeepSeek is currently discussing the listing with investors, banks and accounting firms, with the latter being enlisted to help the Hangzhou-based company finish its financial report by the end of December – a necessary process for the IPO filing.
Depending on when the financials are ready, the 2023-founded company could file this year or early 2027, according to Bloomberg’s sources.
DeepSeek is also reportedly seeking to raise further funding ahead of the IPO, just weeks after it raised more than $7bn at a $50bn-plus post-money valuation.
The June funding round saw participation from Tencent and battery giant Contemporary Amperex Technology, and reportedly came with an unusual condition – requiring investors to put their funds into a limited partnership managed by DeepSeek founder and CEO Liang Wenfeng rather than the company itself.
Discussions for the new funding round, which was first reported by the Financial Times, have commenced, with the company targeting a pre-money valuation of $71bn – or $74bn according to Reuters.
Sources told the WSJ that the start-up expects to raise several billion dollars in the new round, but that Liang has been “selective in choosing backers to ensure that commercial interests don’t interfere with DeepSeek’s long-term push in frontier AI research”.
However, the IPO timeline and the funding plans are subject to change depending on regulatory clearance, market conditions and company performance, sources told both Bloomberg and the WSJ.
The reports of DeepSeek’s IPO plans come weeks after Chinese regulators relaxed rules for AI start-ups to list on Shanghai’s Nasdaq-like market.
Last month, the Shanghai Stock Exchange clarified rules that allow unprofitable AI model developers to go public on Shanghai’s Star Market under a set of listing standards that require them to have an anticipated market cap of at least 4bn yuan ($591m), as well as meeting certain criteria in terms of market potential.
It’s been a busy couple of months for DeepSeek.
Not long after its June funding round, the company announced its plans to double the size of all its departments.
DeepSeek published the hiring plans for technical and engineering professionals on messaging platform WeChat, noting that the company is specifically looking to employ additional data engineers, development engineers and AI cross-disciplinary technical talent.
The Chinese AI giant shot to fame last year after it launched the R1 AI model, which sent Silicon Valley leaders into uproar due to its cost effectiveness and performance, igniting accusations of theft.
Its second major launch, called V4, came more than a year later. The company claimed at the time that V4 “redefine[d] the state-of-the-art for open models”. V4 was hyped to be the company’s most important launch since R1, and V3 in late 2024.
Updated, 12.42pm, 15 July 2026: This article was amended to include Reuters’ report that DeepSeek is targeting a $74bn valuation in its upcoming raise.
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