DeepSeek Seeks Shanghai STAR Market Listing by Second Quarter of 2027, Targets $71 Billion Valuation

Chinese artificial intelligence company DeepSeek is pursuing a listing on Shanghai's STAR Market as early as the second quarter of 2027.

The Wall Street Journal reported on July 15, citing multiple people familiar with the matter, that DeepSeek has been discussing a listing on the tech-focused board with investment banks and other parties.

DeepSeek plans to submit its preliminary listing review application by the end of this year at the latest, the report said. If the process proceeds smoothly, the company could go public as early as the second quarter of next year.

DeepSeek raised $7.4 billion in its first external funding round last month, at a valuation of more than $50 billion. The Wall Street Journal reported that founder Liang Wenfeng began contacting potential investors earlier this month for an additional fundraising round and is seeking capital at a valuation of more than $71 billion.

The new funding will be used for research on next-generation AI models, hiring talent and building data centers. The Wall Street Journal said DeepSeek plans to court investors who share its long-term vision as it focuses on artificial general intelligence, or AGI, research.

China's AI sector has recently stepped up fundraising after US AI company Anthropic unveiled its latest model, as companies seek to strengthen their competitiveness. The Wall Street Journal also reported that Chinese authorities have eased related regulations to allow loss-making domestic AI startups to go public.