Alibaba (BABA, Financial) experienced a significant surge, with its stock price jumping over 5%. Since mid-January, the company's shares have risen by more than 33%. The recent buzz in the market suggested that Alibaba was planning to invest $1 billion for a 10% stake in DeepSeek, valuing the latter at $10 billion.
However, Alibaba Group's Vice President, Yan Qiao, clarified that these rumors are false. Despite the denial, some analysts believe that there could still be potential for collaboration between Alibaba and DeepSeek, especially in terms of technology and business exchanges.
