AI BriefingTencent and Alibaba Discuss Investing in DeepSeek at $20B+ Valuation
Key point
DeepSeek has been discussing an investment from Tencent and Alibaba at a valuation of $20 billion or more.
Details
DeepSeek is discussing its first external investment round, with a valuation figure of $20 billion or more being floated.
As investor interest surged, the valuation crossed $20 billion in just 48 hours, and Tencent proposed acquiring up to a 20% stake, but DeepSeek is reportedly unwilling to dilute control. Alibaba has also joined the negotiations, though its terms have not been disclosed.
However, the deal has not yet been finalized, and the terms, valuation, and round size could still change. None of the companies involved have issued a public statement.
Just days ago, DeepSeek's fundraising target was reportedly at least $300 million, with a valuation around $10 billion. Unlike OpenAI or Anthropic, which have subscription and API revenue, DeepSeek offers its models for free, making valuation more difficult, and it is being compared to MiniMax Group's roughly $40 billion valuation and Moonshot AI's $18 billion target.
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