DeepSeek Reportedly Hires CITIC Securities for Potential Shanghai IPO

DeepSeek has reportedly hired CITIC Securities to prepare for a potential initial public offering on Shanghai’s technology-focused STAR Market. The appointment would give the Chinese AI developer an adviser as it seeks capital for computing infrastructure, new models and technical talent.

Two people familiar with the matter told Reuters that DeepSeek aims to begin the IPO process in 2026. DeepSeek and CITIC have not commented on the private discussions. The reports describe pre-listing work rather than a submitted application or a priced offering; the timing, final structure, fundraising amount and valuation remain undetermined.

From adviser to application

For mainland China listings, securities firms typically provide pre-listing guidance before a company formally submits an application. That makes the reported CITIC engagement a procedural step in a possible path to market, not a commitment to sell shares. It also gives DeepSeek a way to prepare for the requirements of a domestic listing while discussions remain private.

The capital case behind the preparation

DeepSeek is reportedly pursuing fresh capital to expand computing infrastructure, develop AI models, and retain and recruit researchers and engineers. Those are connected demands: the company is seeking resources for both the capacity needed to run and develop AI systems and the people needed to build them.

A separate reported fundraising effort could value DeepSeek at about 500 billion yuan. That figure concerns prospective private financing, not a set valuation for an IPO, and neither company has confirmed the discussions or their terms.

The point at which preparation becomes public

For now, the concrete development is the reported adviser engagement. Confirmation from DeepSeek or CITIC, or a formal application, would move the story from private preparation to a public process with terms investors could assess.