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DeepSeek Reports Revenue of Nearly 475 Million Yuan in First 7 Months of This Year, 10 Times Last Year's Total
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- DeepHorus
According to sources familiar with the matter cited by The Information, Chinese AI model developer DeepSeek achieved approximately 475 million yuan in revenue in the first seven months of 2025, a figure that is about 10 times its projected full-year revenue for 2025, indicating the company's rapid business growth.
DeepSeek's rapid growth occurs against the backdrop of increasingly fierce global competition in AI models. Although its current revenue scale remains far below that of U.S. leaders like Anthropic and OpenAI, it has demonstrated unique advantages in cost control and profitability.
Financial data shows that DeepSeek's net loss in the first seven months of this year was approximately 715 million yuan, while its net loss for the full year of 2025 was 935 million yuan. More noteworthy is its healthy gross profit margin performance: the overall gross profit margin reached 44.6%, with the API business gross profit margin as high as 82.9%. This is primarily due to its significant reduction in model operating costs through optimizing AI infrastructure efficiency.
For comparison, U.S. peer OpenAI had Q1 revenue of $5.7 billion with a gross profit margin of 39%; Anthropic had Q2 revenue of $11.5 billion and expects its gross profit margin to increase from 40% in 2025 to 63% in 2026. DeepSeek has already shown strong competitiveness in gross profit margins.
These undisclosed financial data reveal DeepSeek's recent accelerated growth trend. Previous reports indicated its annualized revenue had reached $400 million to $500 million. The rapid revenue increase adds significant leverage to its ongoing fundraising negotiations. The company completed its first funding round in June this year, raising 50 billion yuan, with the second funding round immediately initiated, targeting 50 billion yuan in fundraising, corresponding to a valuation of 500 billion yuan.
To support business expansion, DeepSeek has also significantly increased its spending. In the first seven months of this year, the company's investment in AI infrastructure was approximately 11 billion yuan, primarily used for leasing servers equipped with AI chips and purchasing computing devices like chips, while the full-year expenditure for 2025 was only about 1.2 billion yuan.
Alongside fundraising efforts, DeepSeek has hired investment banks to prepare for its planned initial public offering (IPO) in Shanghai next year. The strong revenue growth and continuous large-scale investments together outline the development path of this Chinese AI company driven by both capital and technology.
Looking ahead, whether DeepSeek can sustain its current growth momentum to convert it into stable market share and long-term profitability will be a key focus for the industry. Its efficient operational model and capital strategy also provide a new case study for the global AI industry.
