RismadarVoice Reporters
September 9, 2026
Chinese artificial intelligence startup DeepSeek has selected financial services firm CITIC Securities to help prepare for a possible initial public offering (IPO) on Shanghai’s technology-focused STAR Market, according to sources familiar with the matter.
The Hangzhou-based AI company is considering beginning the IPO process before the end of the year, although the size of the proposed offering, timeline and expected valuation have not yet been finalised.
DeepSeek’s engagement of CITIC Securities signals progress in its plans to enter China’s domestic capital market. Companies seeking mainland listings typically work with securities firms for pre-listing guidance before formally submitting IPO applications.
DeepSeek and CITIC Securities have not publicly commented on the development.
The potential listing comes as the AI company seeks additional funding to expand computing infrastructure, improve its artificial intelligence models and attract and retain technical talent amid growing competition among Chinese and US-based AI firms.
The startup is currently involved in a funding round that could value the company at about $75 billion, according to previous reports. DeepSeek reportedly raised about $7.4 billion in June, achieving a valuation of more than $50 billion.
DeepSeek founder Liang Wenfeng was said to have personally committed 20 billion yuan during the funding round, while technology giants including Tencent Holdings and battery manufacturer CATL also invested billions of yuan to become major external shareholders.
The company’s IPO ambitions come amid a broader rush by AI firms to access public markets as the cost of developing advanced artificial intelligence systems continues to rise due to increased demand for computing power, data centres and skilled engineers.
Other Chinese AI companies, including Z.AI and MiniMax, have already moved into public markets through listings in Hong Kong, while Beijing-based AI startup Moonshot has reportedly filed confidentially for a Hong Kong IPO.
Despite rapid technological growth, Chinese AI firms continue to face a valuation gap compared with leading US competitors. Companies such as Anthropic and OpenAI are reportedly seeking much higher valuations as investors bet heavily on the future of artificial intelligence.
DeepSeek’s founder is expected to use funds from a potential IPO to strengthen the company’s research capacity and provide stronger incentives to retain key employees, following reports that some talent has moved to better-funded competitors, including ByteDance and Xiaomi.
The move highlights the increasing competition in the global AI industry as companies race to secure capital, expand technological capabilities and establish dominance in the rapidly growing artificial intelligence market.
