Since 2023, Chinese investors, including Alibaba and Tencent, have valued 6+ China-based startups developing LLMs, dubbed "Little AI Dragons", at $1B+ each (Wall Street Journal)

Wall Street Journal:
Since 2023, Chinese investors, including Alibaba and Tencent, have valued 6+ China-based startups developing LLMs, dubbed “Little AI Dragons”, at $1B+ each  —  Since 2023, 40% of Alibaba's deals in China and 30% of Tencent's have targeted AI startups