DeepSeek's annualised revenue run rate hits $1 billion, report says

The Information reported on September 24, citing two people with direct knowledge, that DeepSeek's annualised revenue run rate has reached $1 billion, more than double a few months earlier. CEO Liang Wenfeng shared the figure with investors as the company targets a second funding round of 50 billion yuan ($7.45 billion) at a 500 billion yuan valuation by the end of October; Reuters said it could not immediately verify the report and could not reach DeepSeek. The same report said recent 2.3x to 4.5x model price increases helped the run-rate, and that Liang is still allocating more than 70% of compute to training.