Rohan Paul@rohanpaul_ai · XThe Information 称 Alibaba 与 Tencent 正考虑投资 DeepSeek，估值可能达 $20B，较此前 $10B+ 的传闻大幅跃升。尽管 DeepSeek 用户份额一年内从 10% 降至 3.3%，投资者仍相信基础模型可成为核心平台。此估值并非仅基于当前使用量，而是同时押注模型人才、未来 AI 产品准入权，以及在市场格局固化前掌控核心基础设施的战略机会。
The Information： Alibaba and Tencent are reportedly considering a DeepSeek investment that could price the Chinese AI startup at $20B， up sharply from talk of $10B+ just weeks earlier.
That jump says investors still think foundation models can become major platforms even after DeepSeek's user share fell from 10% to 3.3% in under a year.
A valuation like this is not a verdict on today's usage alone because buyers are paying for three things at once： model talent， access to future AI products， and a shot at owning core infrastructure before the market settles.
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theinformation. com/articles/tencent-alibaba-talks-invest-deepseek-20-billion-plus-valuation