DeepSeek generated about 475 million yuan ($70.7 million) in revenue in the first seven months of this year, roughly tenfold its full-year 2025 revenue, as the Chinese AI lab goes full steam ahead in its second round of funding, according to two people with knowledge of the company’s financial data.

DeepSeek recorded a net loss of about 715 million yuan between January and July, compared to 935 million yuan for the entire 2025, the two people added. The company is having ongoing discussions with existing and new investors about the funding round, which aims to raise 50 billion yuan at a valuation of 500 billion yuan.