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

TechFlow reports on September 24 that, according to The Information, two sources familiar with the matter revealed that DeepSeek CEO Liang Wenfeng disclosed at a recent investor meeting that DeepSeek's annualized revenue has exceeded $1 billion, more than doubling from under $500 million a few months ago. Following price hikes last month, API call fees for DeepSeek's various models were increased by 2.3 to 4.5 times, but Liang Wenfeng told investors that the raises did not trigger customer attrition. The company plans to complete its second round of financing by the end of October, targeting 50 billion yuan in fundraising (approximately $7.5 billion), with a valuation of 500 billion yuan.