Alibaba, Tencent Cast Wide Net for AI Upstarts.

Alibaba and Tencent, two of China's internet giants, have been investing heavily in AI startups since 2023. They have valued at least six China-based startups developing large language models at over $1 billion each. While both companies have reduced their overall investments in recent years, their interest in AI has intensified. Alibaba and Tencent are positioning themselves as frontrunners in the generative AI space, seeking to strengthen their technological edge and expand market influence. By investing in AI unicorns, these companies hope to gain insight into research and development and access models that can enhance their product offerings and business practices. [Extracted from the article]