Mmastodon TechnologyAI first seen 1 d ago, last 1 d ago, peak #12
Chinese markets lose trillions amid costly AI race with US
Original: 🤖 Chinese markets lose trillions as race for AI supremacy with US takes its toll Lack of profits and the threat posed by
Trillions of dollars have been wiped from Chinese stock markets as concerns grow over the sustainability of Beijing's AI boom. A lack of profits from AI companies and the threat of restrictions posed by Western countries are weighing on investor confidence in China's technology sector, as the country pours resources into competing with the United States for AI supremacy.
Why now: Investors are reacting to the enormous scale of losses and doubts about whether China's AI spending can deliver profits amid US-China tech rivalry.
ChinaUnited StatesBeijingChinese stock markets
Evidence
- 🤖 Chinese markets lose trillions as race for AI supremacy with US takes its toll Lack of profits and the threat posed by western countries are raising concern about the sustainability of Beijing’s AI boomTrillions of dollars have been wiped from China’s stock markets in recent… · feed@igeek.gamer-geek-news.com
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