Tencent and Alibaba in talks to invest in DeepSeek at over $20B valuation, doubling last week's $10B reported figure

Tencent and Alibaba are in discussions to back DeepSeek at $20B+, per The Information — roughly double the $10B valuation floated days earlier when the round was pegged at ~$300M from mostly domestic investors. Notable because Alibaba publicly denied DeepSeek investment rumors earlier this year. If it closes, DeepSeek goes from hedge-fund-backed outsider to having China's two biggest tech giants on its cap table.

TLDR by @Benthic

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