Alibaba (BABA) has denied reports that the company plans to invest in DeepSeek, a Chinese-built large-language open-source model that claims to rival offerings from Microsoft-backed (MSFT) OpenAI’s ChatGPT and Meta Platforms (META) but using a much smaller budget, Reuters’ Brenda Goh reports. According to Chinese news outlet The Paper, Goh writes that Yan Qiao, a vice president at Alibaba, wrote on her personal WeChat feed that “as a fellow Chinese and Hangzhou company, we applaud DeepSeek, but news circulating that Alibaba will invest in DeepSeek is fake news.” Previous reports indicated Alibaba planned to invest $1B into DeepSeek.
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