Technology
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DeepSeek prepares STAR IPO after $75 billion talk
The Economic Times··9 Sept
Chinese AI firm DeepSeek has hired CITIC Securities to prepare a Shanghai STAR Market IPO, two people familiar with the matter said. The Hangzhou company aims to start the process this year. Timing, raise size and target valuation are not set. It is also in a funding round that would value it at 500 billion yuan, or $75 billion.
Prism
What It Means For You
- A mainland listing path would open a new public-market route into DeepSeek equity.
- Proceeds are intended for computing gear, models and staff retention, the people said.
- Founder Liang Wenfeng wants stronger incentives after talent losses to ByteDance and Xiaomi.
What's Happening
- CITIC would run pre-listing tutoring before any STAR Market application is filed.
- DeepSeek and CITIC did not immediately respond to comment requests.
- In June the startup raised about $7.4 billion at a post-money valuation over $50 billion.
Who Else Is Listing
- Chinese model firms Z.AI and MiniMax already listed in Hong Kong earlier this year.
- Moonshot filed confidentially for a Hong Kong IPO and was valued at $50 billion in a round.
- Liang personally committed 20 billion yuan in the June round, with Tencent and CATL as large backers.
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