DeepSeek Tops $1 Billion in Annualized Revenue, Nears Final Stage of $7.45 Billion IPO Fundraising

DeepSeek, the Chinese artificial intelligence startup, has surpassed $1 billion in annualized revenue.

The Information reported on September 24, citing multiple sources, that DeepSeek's annualized revenue recently reached about $1 billion. Annualized revenue refers to projected yearly sales if the current pace of revenue generation is sustained for 12 months.

The figure has nearly doubled over the past few months. The increase was driven in part by DeepSeek's decision to raise fees for its AI models by two to four times.

Chief Executive Officer Liang Wenfeng recently shared the revenue figure during meetings with investors, the report said.

DeepSeek is also pursuing an initial public offering to expand its business. The Information said the company is aiming to raise about $7.45 billion through an IPO by the end of next month. It is targeting a valuation of about $75 billion.

Reuters reported earlier this month that DeepSeek had selected CITIC Securities as lead underwriter for a listing on Shanghai's STAR Market, the Shanghai Stock Exchange's technology-focused board.