Chinese President Xi Jinping has bluntly questioned a nationwide rush of investment into the AI and EV industries. As deflation anxiety grows and Trump’s trade war with China ramps up, the world’s second largest economy is turning to fast-growth tech industries to remain competitive.

China's top leadership has recently pledged to curb "involutionary" competition amid intense price wars in the country.

China's Commerce Minister Wang Wentao told Nvidia CEO Jensen Huang on Thursday that he hoped multinational companies, including Nvidia, would provide high-quality and reliable products and services to Chinese customers,

At the Beijing Expo, Jensen Huang also announced plans for a new chip for Chinese clients that is designed for robotics and smart factories.

But the fact that America or China will win this contest should not turn other countries into mere spectators. Even more important for their economies and societies is the other AI race, the one for “everyday AI ”: the deployment and diffusion of the technology across the whole of the nation.

In total, China exported 3,188 tons of rare earth permanent magnets last month, up 157.5% from 1,238 tons in May, although the June volume was still 38.1% lower than the corresponding month in 2024. Shipments of magnets are likely to recover further in July as more exporters obtained licences in June, analysts said.

China’s new $223M underwater AI data center uses seawater cooling and offshore wind to cut emissions and power large-scale model training operations.

Embracing the controversial technology might help retailer Pop Mart adapt the fad before it fizzles, but the cultural consequences in the U.S. could be dire.