DeepSeek Reportedly Hits $1B Annualized Revenue

DeepSeek’s annualized revenue run rate has reportedly climbed to about $1 billion, more than doubling from under $500 million a few months ago. The increase reflects steady demand for its models and API price hikes of roughly 2.3 to 4.5 times; founder and CEO Liang Wenfeng reportedly told investors customers had stayed despite the higher fees. The figure is a projection based on the current pace of revenue, not money already earned over a full year, and DeepSeek has not publicly confirmed the reports. Most of the company’s revenue comes from developers accessing its models through APIs, while it continues to devote most of its computing resources to model training. Reports say DeepSeek is pursuing roughly $7.5 billion in financing at a valuation near $74 billion to $75 billion, with accounts differing on whether the effort is a funding round tied to a planned Shanghai listing or an IPO.