DeepSeek Eyes Shanghai IPO in 2027 Amid $5B Funding Rounds, ARR Nears $500M

According to The Information, DeepSeek's annual recurring revenue has reached nearly $500 million, with the AI startup securing $7.4 billion in funding to date. The company is structuring a second funding round to attract capital from Middle Eastern investors denominated in U.S. dollars.

DeepSeek has also engaged investment banks to prepare for a listing on Shanghai's STAR Market (科创板), with an IPO target set for 2027. The company maintains gross margins exceeding 50% through V4 model access sales.