DeepSeek's annualized revenue has surpassed $1 billion, with plans to complete a 50 billion yuan financing round by the end of October.

According to The Information, two sources familiar with the matter revealed that DeepSeek CEO Liang Wenfeng disclosed at a recent investor meeting that the company's annualized revenue has exceeded $1 billion, more than doubling from under $500 million several months ago. Following a price increase last month, API call fees for all DeepSeek models rose by 2.3 to 4.5 times, but Liang Wenfeng assured investors that the hike has not led to customer churn. The company plans to complete its second round of financing by the end of October, targeting 50 billion yuan ($7.5 billion) in fundraising, with a valuation of 500 billion yuan.