DeepSeek doubles its revenue run rate to $1bn after hiking prices
DeepSeek's annualised revenue has passed $1bn, up from under $500m a few months ago, according to The Information. The jump followed an August price rise of 2.3 to 4.5 times, which CEO Liang Wenfeng told investors cost it no customers. Its models are still among the cheapest of the major LLMs, and that's the likely reason demand held. It now wants to raise about $7.5bn at a $75bn valuation by the end of October ahead of a Shanghai listing, which works out at roughly 75 times revenue on numbers that were half the size in the spring.
UK angle: UK developers on DeepSeek's API have watched prices multiply since July. Worth benchmarking the alternatives before the next bill.