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BABA-W Vice President Denies Investment Rumors in DeepSeek
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Last Friday (7th) evening, there were reports that BABA-W (09988.HK) plans to invest US$1 billion to acquire a 10% stake in DeepSeek based on a valuation of US$10 billion, and that both parties are currently discussing the specific execution details. Yan Qiao, a vice president at Alibaba, responded on her WeChat moments stating that Alibaba, as a fellow Hangzhou-based company, applauds DeepSeek, but the circulating rumors about Alibaba investing in DeepSeek are false, Chinese media reported. Alibaba's public relations officer has denied the above-mentioned matters, according to Cailian Press. AAStocks Financial News |
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