DeepSeek has tapped CITIC Securities to prepare an IPO on Shanghai’s tech-focused STAR Market and aims to begin the IPO process this year, two people familiar with the matter told Reuters on Wednesday. DeepSeek and CITIC did not immediately respond. Timing, the amount to raise, and target valuation have not been determined, the sources said. Claims are anonymous-source reporting, not a filed application.
Mainland listings typically appoint securities firms for pre-listing tutoring before an application, Reuters noted, without confirming a public SSE filing. Reuters also said DeepSeek is in a funding round that would value it at about 500 billion yuan, or about $75 billion, citing prior July reporting. That private-round narrative is background only and is not equated with IPO proceeds or valuation. Reporting names CITIC only; additional underwriters were not disclosed. Distinct from reported Ascend chip-cluster plans.
Sources: Reuters exclusive; TechNode, Sep. 9, 2026.
