China triggers a stock market rout as US supremacy in AI technology is shattered - Workers Revolutionary Party
β’ Global high-tech stocks experienced a severe market rout after China announced that state-owned company Shanghai Yuliangsheng will begin mass-producing machinery for advanced AI microchips. β’ The announcement challenged the perceived supremacy of the United States in AI technology, triggering a widespread meltdown across international stock markets. β’ This development is significant as it signals China's ability to independently manufacture the critical hardware necessary for artificial intelligence, potentially shifting the global balance of technological power.
wrp.org.uk
