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DeepSeek Doubles Annual Revenue Run Rate to $1 Billion Ahead of IPO

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DeepSeek Doubles Annual Revenue Run Rate to $1 Billion Ahead of IPO

DeepSeek more than doubled its annualized revenue run rate over the past few months, bringing the rate to $1 billion, The Information reported Wednesday (Sept. 23), citing unnamed sources.

The figure was shared with investors by DeepSeek CEO Liang Wenfeng, according to the report.

Wenfeng told investors that demand for DeepSeek’s was not impacted by last month’s price hike, per the report.

The report said that DeepSeek raised the prices of its models by 2.3 to 4.5 times, but that the company’s prices remain among the lowest for major AI models.

Wenfeng’s announcement of the annualized revenue run rate figure came as DeepSeek is finalizing its second funding round and preparing to go public on the Shanghai Stock Exchange. In the funding round, DeepSeek aims to raise 50 billion yuan (about $7.5 billion) at a valuation of 500 billion yuan (about $75 billion), according to the report.

The Information reported Aug. 26 that DeepSeek’s revenues had jumped by around tenfold since 2025. The company generated roughly 475 million yuan (about $70.7 million) in the first seven months of the year, or about 10 times its revenue for all of last year, the report said, citing unnamed sources.

DeepSeek first came to prominence in early 2025 when it launched an AI model that shook Silicon Valley and Wall Street. That model offered performance comparable to that of U.S. rivals while using far fewer Nvidia chips.

When DeepSeek announced its price adjustment in August, Bloomberg reported that the company was adding peak-hour pricing for its flagship V4 models that would quadruple the levels that were in place at that time.


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