DeepSeek's annualized revenue is approaching $500 million, according to three people with knowledge of the matter cited by The Information. The Chinese open-source AI developer is using that growth to support a second funding round of 50 billion yuan (about $7.4 billion) and is weighing a public offering in Shanghai next year. DeepSeek is three years old. The report is paywalled beyond its opening lines, so further detail on revenue mix, investors and IPO timing is not available in the accessible portion.