According to sources with direct knowledge of the situation, DeepSeek is progressing with its second round of financing, aiming to raise 50 billion yuan with a targeted valuation of 500 billion yuan. The company has engaged investment banks to lay the groundwork for a listing next year. In the first seven months of 2026, DeepSeek’s revenue reached approximately 475 million yuan—ten times the figure for the whole of 2025. Despite this growth, the company reported a net loss of about 715 million yuan, though this represented a narrowing compared to the loss for the entire year of 2025. The overall gross profit margin stood at 44.6%, with the API service segment achieving an impressive 82.9% margin. Annualized revenue has now reached between 400 million and 500 million US dollars. This revenue surge was primarily fueled by the expanding scale of open-source model deployments, and the company recently adjusted its API interface pricing upward. DeepSeek has not yet issued any official comment on these developments.