April 22 — Chinese tech giants Tencent Holdings and Alibaba Group are in discussions to invest in artificial intelligence startup DeepSeek, The Information reported on Wednesday (April 22), 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 US$20 billion (S$25.5 billion), as its initial discussions with prospective investors sparked immense interest, the report said, citing one of the people.