Chinese markets lose trillions as race for AI supremacy with US takes its toll

Chinese stock markets have lost trillions of dollars in recent months due to concerns about the sustainability of Beijing's artificial intelligence boom. The STAR 50 Index, which tracks technology and innovation companies on the Shanghai stock exchange, has plummeted 40% since June. This decline is largely attributed to the increasing anxiety about the future of AI, as China races against the United States for dominance in the sector.

Why it matters

The race for AI supremacy with the US is taking a toll on Chinese markets, with trillions of dollars wiped out due to lack of profits and western threats. This could lead to a decline in Chinese markets and a decrease in investor confidence.

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