DeepSeek’s annualized revenue has reached approximately $1 billion, more than doubling from its level a few months earlier, according to two people familiar with the matter cited by The Information. The Chinese artificial intelligence startup raised charges for access to its models as revenue grew. Chief Executive Officer Liang Wenfeng previously shared the revenue figure with investors, The Information reported. The company is targeting an initial public offering of about $7.45 billion by the end of next month at a valuation of about $75 billion. Reuters earlier reported that DeepSeek selected CITIC Securities as lead underwriter for a planned listing on Shanghai's STAR Market. Earlier accounts described a planned 50 billion yuan funding round by late October at a 500 billion yuan valuation, while the latest report characterizes the capital-raising effort as an IPO.