DeepSeek passes a $1B revenue run rate after a 2.3-4.5x API price hike and is finalizing a ~$7.5B raise
The Information (corroborated by Reuters via 93.3 The Drive and Finimize)·high signal
The Information reports DeepSeek's annualized revenue topped $1B, more than double the sub-$500M level of a few months ago. Almost all of it comes from the API, and customer churn stayed low after prices rose 2.3-4.5x. The company plans to close a round of about RMB 50B (~$7.5B) at an RMB 500B valuation by the end of October. The takeaway for builders is that the cheapest frontier API raised prices sharply and kept its customers.