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00:02China's rapid AI expansion is challenging U.S. tech leadership, according to CNBC.
00:08TS Lombard chief China economist Rory Green told CNBC that America's perceived monopoly on AI has
00:15been broken as China advances in AI, electric vehicles, and other technologies. Green said
00:21China is combining advanced technology with emerging market production costs and strong
00:25supply chains, while heavy state investment under Xi Jinping is accelerating its tech growth.
00:30Beijing launched an $8.69 billion national AI fund and an AI Plus initiative to integrate AI
00:37across its economy. China is developing advanced AI models using homegrown chips,
00:43including large Huawei clusters powered by low-cost energy.
00:46NVIDIA remains the gold standard for AI semiconductors,
00:50but Huawei is scaling compute through volume and cheaper power.
00:53Green said a China tech sphere could emerge as China's low-cost technology offerings
00:58may appeal more to developing economies.
01:01For all things money, visit Benzinga.com.
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