Bloomberg, Reuters, The Wall Street Journal and The Information report that Chinese AI startup DeepSeek is preparing for a possible mainland listing, with talks around a Shanghai IPO, a fresh funding round at roughly a $74 billion valuation, and annualized revenue nearing $500 million.
DeepSeek has begun preparations for a possible initial public offering in mainland China, according to Bloomberg News, which reported that the Chinese AI startup is targeting a 2026 filing and a potential 2027 market debut.
Reuters, citing people familiar with the matter, separately reported via The Business Times that DeepSeek is planning to raise fresh capital at a valuation of about 500 billion yuan, or roughly $74 billion, ahead of a possible onshore IPO. The report said the company has begun early discussions about listing on Shanghai’s STAR Market, a venue designed for technology and high-growth companies.
The Wall Street Journal, in a report republished by Mint, also said DeepSeek has been discussing a Shanghai listing with investors and banks, with a goal of filing IPO paperwork by the end of 2026 and potentially listing as early as the second quarter of 2027.
The Information reported that DeepSeek’s annualized revenue is nearing $500 million, a figure that helps explain investor interest around the company’s fundraising and listing plans. None of the cited reports indicates that DeepSeek has publicly confirmed the IPO timetable, valuation target, or revenue figure.
The reported financing discussions would mark a major step for one of China’s most closely watched AI companies. DeepSeek gained international attention for releasing competitive large language models and offering low-cost access to its systems, but the latest reports focus less on model performance and more on how the company may fund its growth and formalize its capital structure.
A Shanghai STAR Market listing would keep DeepSeek’s public-market ambitions inside China rather than sending the company to offshore venues such as Hong Kong or New York. Reuters reported that the company is considering an onshore IPO, while Bloomberg News said it is talking with accounting and banking advisers as part of listing preparations.
That route would also place DeepSeek within China’s domestic capital-market framework at a time when Beijing is encouraging strategic technology development, including AI, semiconductors and advanced computing. The reports do not establish whether regulators have reviewed or approved any listing plan.
Several important details remain unresolved. The cited reports differ slightly on timing, with Bloomberg News pointing to a 2026 filing and possible 2027 debut, while The Wall Street Journal reported a potential listing as early as the second quarter of 2027 after paperwork by the end of 2026. Reuters described the IPO discussions as early deliberations.
The reported $74 billion valuation is also tied to a prospective private fundraising round, not a completed public listing. If the funding or IPO plans move forward, final valuation will depend on investor demand, regulatory conditions, financial disclosures and broader market sentiment toward AI companies.
For now, the most substantiated conclusion from the available reporting is that DeepSeek is exploring a major domestic capital raise and preparing for a potential Shanghai IPO, while key figures including valuation, timing and revenue remain reported by media outlets rather than confirmed by the company.
The report said the company has begun early discussions about listing on Shanghai’s STAR Market, a venue designed for technology and high growth companies.
Revenue context and investor interest The Information reported that DeepSeek’s annualized revenue is nearing $500 million, a figure that helps explain investor interest around the company’s fundraising and listing plans.
None of the cited reports indicates that DeepSeek has publicly confirmed the IPO timetable, valuation target, or revenue figure.
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