China’s DeepSeek is close to raising at least $12 billion in new funding, while fellow AI developer Moonshot has completed a private financing round valuing it at $50 billion. Both companies are preparing for potential public listings in early 2027, adding to a growing pipeline of major artificial-intelligence offerings as competition between Chinese and U.S. developers intensifies.
Chinese AI companies build war chests
DeepSeek’s latest financing is backed by Tencent and battery manufacturer CATL, according to CoinDesk, which cited a Bloomberg report. The round is expected to raise at least $12 billion, although strong investor demand could lift the total to about $15 billion.
The fundraising follows DeepSeek’s release of its V4 Flash model. The new system has strengthened the company’s position in competition with U.S. firms OpenAI and Anthropic, particularly on cost and performance, according to the source material.
DeepSeek is targeting an initial public offering in early 2027. An IPO, or initial public offering, allows a privately held company to sell shares to public-market investors for the first time. A listing can provide capital for expansion while giving existing private investors a potential route to sell or value their holdings.
Moonshot AI, the developer of the Kimi chatbot, has also reached a major private-market milestone. Its final private funding round valued the company at $50 billion. Moonshot is aiming for a Hong Kong listing in the first quarter of 2027, which could raise as much as $5 billion.
The company’s annual recurring revenue is expected to reach $2 billion by December, twice its current level. Annual recurring revenue is a measure of the revenue a business expects to generate repeatedly from ongoing subscriptions or contracts.
OpenAI and Anthropic keep U.S. pressure on
The fundraising race is not limited to China. OpenAI is seeking at least $30 billion at a proposed pre-money valuation of $1.4 trillion, according to reports cited in the source material. A pre-money valuation refers to a company’s value before new investment is added.
The plans followed a delay to OpenAI’s IPO. Bloomberg identified BlackRock and funds from the United Arab Emirates as potential investors, with those parties potentially contributing up to $10 billion collectively.
Anthropic is also considering a public offering in November, after the U.S. midterm elections, at a possible valuation of around $2 trillion. The potential listing would place another leading U.S. AI company directly before public-market investors.
Together, the prospective financings and listings show how private capital is being directed toward the development of increasingly powerful AI models. They also highlight the financial scale of the U.S.-China technology competition, with companies on both sides seeking large sums before entering public markets.
Moneyiar market picture
Moneyiar market data at 10:04 a.m. on October 7, 2026, showed mixed performance among selected digital assets:
- Ethena (ENA): $0.2347992009, down 2.23% over 24 hours and 9.41% over seven days.
- OriginTrail (TRAC): $0.400099829, down 3.42% over 24 hours and 4.84% over seven days.
- Cap (CAP): $0.08626312, up 13.68% over 24 hours and 38.78% over seven days.
- DeepBook Protocol (DEEP): $0.021891274, down 6.94% over 24 hours and 4.96% over seven days.
