Chinese markets lose trillions as race for AI supremacy with US takes its toll
AI · First reported 27 Oct, 04:42 · Updated 07:56
Chinese technology and AI-related shares fell amid concerns about weak domestic demand, limited profits and possible US restrictions. The Guardian reports that China’s stock market lost $2.4 trillion in value since May.
- The STAR 50 Index fell 40% since June, while other major-company indexes dropped about 20% over the same period.
- Bloomberg data cited in the article put the loss in Chinese stock-market value since May at $2.4 trillion.
- The article identifies weak consumer demand, thin profits and potential US technology restrictions among the pressures on Chinese technology companies.
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