DeepSeek is seeking a second round of external funding and plans to raise RMB 50 billion at a reported valuation of RMB 500 billion, according to the information cited in the report. The company previously completed its first external fundraising in June this year, also totaling RMB 50 billion, and has hired investment banks as it prepares for a planned IPO in Shanghai next year.
Operational data in the report showed that DeepSeek generated RMB 475 million in revenue from January through July 2026, or about $70.7 million, roughly 10 times its full-year 2025 revenue. Net loss for the same period narrowed to RMB 715 million. Gross margin stood at 44.6%, while the API business posted a gross margin of 82.9%.
The report also said annualized revenue had reportedly reached $400 million to $500 million as developer adoption of the V4 series, especially V4-Flash, increased through last month. At the same time, AI infrastructure spending in the first seven months of this year climbed to RMB 11 billion, up sharply from RMB 1.2 billion for all of 2025, with spending mainly directed toward server leasing and purchases of AI chips and computing equipment.
DeepSeek is seeking a second round of external funding and plans to raise RMB 50 billion at a reported valuation of RMB 500 billion, according to a report cited by Odaily.
The company previously completed its first external fundraising in June this year, with proceeds totaling RMB 50 billion. It has also hired investment banks as it prepares for a planned IPO in Shanghai next year.
Revenue reached RMB 475 million in the first seven months
Data in the report showed that DeepSeek posted revenue of RMB 475 million from January to July 2026, or about $70.7 million. That figure was roughly 10 times its revenue for the whole of 2025. Over the same period, net loss narrowed to RMB 715 million.
On profitability, gross margin came in at 44.6%, while the API business recorded a gross margin of 82.9%. As developer adoption of the V4 series, especially V4-Flash, increased, annualized revenue had reportedly reached $400 million to $500 million as of last month.
AI infrastructure spending rose to RMB 11 billion
DeepSeek's AI infrastructure spending in the first seven months of this year climbed to RMB 11 billion, up sharply from RMB 1.2 billion for all of 2025. The spending was mainly used for server leasing and purchases of AI chips and computing equipment.
The Information was cited as the source of the report.
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