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Chinese tech giants Tencent and Alibaba are in talks to invest in DeepSeek, the AI upstart that recently started fundraising for the first time.
DeepSeek, owned by Chinese hedge fund High-Flyer Capital Management, is now seeking to raise funding at a valuation of more than $20 billion, after its initial discussions with prospective investors generated immense interests, one of the people said. The company initially sought a valuation of at least $10 billion, The Information reported last week.
Both Tencent and Alibaba have invested in several of China’s leading AI startups, including Zhipu, MiniMax and Moonshot. A stake in DeepSeek would help hedge their bets as they continue to develop their own AI models and products, and give both companies a direct line into further collaboration with DeepSeek.
theinformation.com/articl..
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Tencent, Alibaba in Talks to Invest in DeepSeek at $20 Billion-Plus Valuation
Chinese tech giants Tencent Holdings and Alibaba Group are in talks to invest in DeepSeek, the AI upstart that recently started fundraising for the first time, according to four people with knowledge of the conversations. DeepSeek, owned by Chinese hedge fund High-Flyer Capital Management, is ...