DeepSeek's annualised revenue run rate reaches $1bn as it seeks about $7.45bn, The Information reports

DeepSeek's annualised revenue run rate has reached $1 billion, more than double its level a few months earlier, The Information reported, according to Reuters. The Information cited two people with direct knowledge of the matter, and said chief executive Liang Wenfeng shared the figure at a recent investor meeting. A run rate is a projection: what the company would earn in a year at its current pace, not revenue already booked. The Next Web, also citing The Information, reported that the run rate had been under $500 million a few months earlier.

DeepSeek is pushing a second funding round that targets 50 billion yuan, about $7.45 billion, at a valuation of 500 billion yuan, and aims to close it by the end of October, The Information reported, according to Reuters. Part of the growth came from raising model prices by 2.3 to 4.5 times, the report said.

Reuters said it could not immediately verify the report, and DeepSeek could not be reached for comment. Reuters later corrected its story to say the 50 billion yuan would be raised in a fundraise, not an IPO; some early reprints still carry the uncorrected wording.

This is the first of two reports on DeepSeek's fundraising. On 6 October Bloomberg reported that DeepSeek was nearing a raise of at least 80 billion yuan, which the Switchboard covers under that date.

• Reported DeepSeek's annualised revenue run rate has reached $1bn, more than double a few months earlier, The Information reported, according to Reuters. Reuters (KSL)
• Reported DeepSeek's second round targets 50bn yuan (about $7.45bn) at a 500bn yuan valuation, to close by the end of October, The Information reported, according to Reuters. Reuters (KSL)
• Reported The run rate was under $500m a few months earlier, The Information reported, according to The Next Web. The Next Web