Tencent, Alibaba to back DeepSeek at $20B+ valuation (2 minute read)
DeepSeek is raising its first funding round at a $20 billion valuation with Tencent and Alibaba competing for stakes, doubling its valuation in just days.
What: DeepSeek, an AI company, is in talks for its first institutional funding round at a $20 billion valuation, with Chinese tech giants Tencent and Alibaba both expressing interest in investing. Tencent is seeking a 20% stake, though DeepSeek is reportedly resistant to giving up that much control.
Why it matters: The rapid valuation jump from $10 billion to $20 billion within days signals intense investor appetite for AI companies, particularly those that have apparently reached significant scale without prior institutional funding.
Original article
DeepSeek is in talks for its first funding round at a $20 billion valuation, with Tencent and Alibaba interested. Tencent is seeking a 20% stake, but DeepSeek doesn't want to lose that much control. The valuation surged from $10 billion to $20 billion in days, illustrating significant investor interest.