China’s AI stocks have shed $33 billion this month. It looks like American containment working — but the bigger force is a bubble China blew itself. A valuation correction is not a capability collapse. watchchina.ai keeps the two clocks separate.
Amodei asked the world to pace AI for safety — then demanded China’s chips be cut off in the same essay. Beijing called it a Cold War playbook. And the dilemma Amodei himself admits reveals the structural tragedy of the whole race.
America outspends China five-to-one on AI compute and the gap is barely moving. When Stanford said it, it was academic. When Moody’s says it, it’s financial — and that’s the warning Wall Street can’t ignore.
Beijing’s tech minister flew to a G20 meeting on US soil to call for AI “cooperation, not rivalry” — three weeks before the summit. The message is aimed at the watching world. And the gap between the words and China’s own hardening is the real story.
China just made its civilian AI industry a legal military reserve. The first defence-mobilisation law revision in 16 years turns AI, drones, and data into wartime assets on demand — weeks before the Trump-Xi summit.