DeepSeek's annualized revenue has surpassed $1 billion, more than doubling from less than $500 million just months ago. CEO Liang Wenfeng disclosed at a recent investor meeting that API fees were raised 2.3 to 4.5 times last month without causing customer churn. The AI company plans to complete its second financing round by the end of October, targeting 50 billion yuan ($7.5 billion) at a valuation of 500 billion yuan. This funding effort follows the significant revenue acceleration and successful price adjustment for its various models.