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DeepSeek wiped $600 billion off Nvidia in January with the cheap-AI story.

Today it raised its own prices up to 1,100%.

Issue 1016 August 20266 receipts3 min

DeepSeek is raising API prices by up to 1,100% with a new peak/off-peak billing structure, effective August 16.

Before you read on. Your call?

confirmed. V4-Pro cached input tokens go from $0.00362 to $0.044 at peak hours (1,113%). Output tokens from $0.87 to $3.96 (355%). V4-Flash sees 57-400% increases. Peak hours: 01:00-04:00 and 06:00-10:00 UTC, which covers prime US working hours.

The twist

seven months ago this company panicked Wall Street by training a frontier model for under $6 million and pricing it at a fraction of American competitors. The cheap-AI disruption story just hit its sell-by date.

1100% maximum increase per Caixin Global
3.96USD per 1M output tokens V4-Pro peak
4x multiplier on V4-Pro output at peak per Engadget

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Say this in tomorrow's meeting“DeepSeek wiped $600B off Nvidia seven months ago with the cheap-AI story. This week it raised API prices by as much as 1,100%. The disruption was real. The old pricing was a customer acquisition cost.”

Receipts

  1. Supports api-docs.deepseek.com: 01:00 - 04:00 and 06:00 - 10:00 UTC (all other hours are off-peak)
  2. Supports fortune.com: DeepSeek increases prices for AI services by multiple times
  3. Supports engadget.com: DeepSeek's AI models are about to get four times pricier
  4. Context infoworld.com: DeepSeek raises some V4 prices by more than 10x as AI demand strains capacity
  5. Supports caixinglobal.com: raises API prices by as much as 1,100%
  6. Refutes theconversation.com: DeepSeek shatters beliefs about the cost of AI, leaving US tech giants reeling

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