DeepSeek's annualized revenue reportedly doubles, new funding still being finalized
Revenue run-rate doubled to $1 billion in months, but the new round and valuation remain targets; watch for a signed deal by end of October.
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According to The Information, DeepSeek's annualized revenue run-rate has reached $1 billion, up from under $500 million a few months ago; the figure came from founder Liang Wenfeng at an investor meeting.
A new round of 50 billion yuan is planned to close by the end of October at a target valuation of 500 billion yuan, but it is still being finalized and not yet signed. In June the company completed a roughly 50 billion yuan round at a post-money valuation near 400 billion yuan.
Revenue comes almost entirely from API calls, and Liang said customer numbers did not fall after the price increase.