Dan Ives says China is losing the A.I. race as Wedbush sees ‘discernibly more clients in Asia’ rotating toward Silicon Valley

Phone with ChatGPT on the screen in front of a larger screen with AI written on it (Credit: CFOTO/Future Publishing via Getty Images)

Artificial intelligence is the latest battlefront for U.S. and Chinese companies as they fight to dominate the disruptive technology. The contest is likely still in its opening stages, but early signs suggest the race might be for U.S. companies to lose.

Investors are more excited about the U.S. businesses leading the charge on A.I.—including Microsoft, Google, and Apple—than their Chinese rivals, suggesting U.S. tech stocks are in a stronger position to benefit as interest in the new technology grows, according to an analyst note Friday by investment firm Wedbush.