Tencent, Alibaba in talks to invest in DeepSeek at over $20 billion valuation: Report

Chinese tech giants Tencent Holdings and Alibaba Group are in discussions to invest in artificial intelligence startup DeepSeek, The Information reported on Wednesday, citing four people with knowledge of the talks.

Owned by Chinese hedge fund High-Flyer Capital Management, DeepSeek is now aiming to raise ‌funding at ⁠a valuation ⁠exceeding $20 billion, as its initial discussions with prospective investors sparked immense interest, the report said, citing one of the people.

Alibaba, Tencent and DeepSeek did ​not immediately respond to requests for comment. Reuters could not independently verify the report.