DeepSeek’s annualized revenue has more than doubled to $1B in recent months, The Information reports. Liang Wenfeng reportedly said prices rose to 2.3–4.5× previous levels without shrinking its customer base.

The company aims to raise $7.5B at a $75B valuation by late October as it prepares for a Shanghai IPO.

More than 70% of compute goes to training. Huawei training chips could arrive as early as Q4 to help address shortages.