DeepSeek Engages CITIC Securities for Shanghai STAR Market IPO
Chinese AI startup DeepSeek has enlisted CITIC Securities to prepare for an initial public offering on the Shanghai STAR Market, according to Reuters. The Hangzhou-based company is aiming to begin the IPO process this year but has not yet disclosed details such as timing, fundraising target, or valuation. This move reflects its effort to secure capital for computing infrastructure and talent retention amid fierce competition from both Chinese and U.S. AI firms. DeepSeek recently raised a $7.4 billion funding round at over $50 billion post-money valuation in June 2026, with major contributions coming from Liang Wenfeng, Tencent Holdings, and CATL. The company is currently raising another round valued at 500 billion yuan ($75 billion). Despite its high valuation, it remains significantly lower than those anticipated for U.S. rivals like Anthropic and OpenAI. The IPO comes as other Chinese AI startups also move toward public markets, with Beijing-based Moonshot having filed confidentially for a Hong Kong listing.
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Topics: AI Capital Markets China IPOs Startup Funding