DeepSeek Annualized Revenue Hits $1 Billion, Plans $7 Billion Funding Round

AI company DeepSeek has seen its annualized revenue double to $1 billion in recent months, driven largely by API usage despite price hikes of 2.3 to 4.5 times. CEO Liang Wenfeng noted that demand remains strong following the price increases. The company is currently seeking to raise 50 billion yuan (approximately $7 billion) at a 500 billion yuan valuation by the end of October, while also preparing for an IPO on the STAR Market (Shanghai). DeepSeek is prioritizing compute resources for training new models over inference.