China can’t resist the FOMO. It’s ramping up its ambitions in semiconductors and AI – in pursuit of global tech leadership that it sees as vital for both military and commercial goals.
China's Ministry of Industry and Information Technology is shifting its stance on AI development, moving away from restrictions and censorship. They are now focusing on expanding computing power to advance the country’s AI tech.
Internet giants like Alibaba, Baidu, and JD.com are collaborating with academics and entrepreneurs to create a rival to OpenAI; and domestic chip manufacturers are working on creating chips that might, in some distant dreamland, reach the level of Nvidia's excellence.
Plus, to support these efforts, China is scalping top tech talent from Europe. Around 30,000 experts, primarily from the semiconductor and telecom equipment industries, left European tech companies to join Chinese firms over the past two decades. US officials say that China has been offering cash grants and tax breaks to Chinese nationals abroad as an incentive for them to move back/ share trade secrets.
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