The AI Arms race between the US and China continues to heat up this time in the venture capital deal-making space and that is the focus of today's tech check with Deirdre Bosa.

Hi again, D.

Hey Carl, so new restrictions on chip exports. tech check with dear

Hi again D. Hey Carl so new restrictions on chip exports that just that is just one

piece of this broader AI arms race between the two countries. We have our

early winners big players like NVIDIA Microsoft and open AI Google China has theirs

bite-dew alibiba tenson bite dance others are certainly emerging but as we have

talked about before it is not guaranteed that big tech will ultimately be the

winners of this generative AI platform shift.

So there's another race going on to find another class of potential winners at the earliest stages.

The founders in startups that could challenge the existing dominant players and pioneer new use cases that we haven't even thought of.

So far the US has been way ahead in terms of dealmaking.

Take a look at this chart that draws on pre-Quinn data. It tells us that China is closing the gap with the U.S. in terms of that

a-ideal making. In 2020, China was doing less than 50% of the A-I deals being done in the U.S. this year, which we're only halfway through.

China has closed that gap.

Its Aideal making is more than two-thirds.

It's more than 70% of that of U.S. Aideal making.

So in terms of dollars invested guys we are

still far ahead of China by some 20 billion dollars but the last platform shift

mobile, remember that, saw a slew of Chinese players storm onto the scene and genuinely rival our big tech companies.

Bight Dance perhaps the best example of this.

There are those and Chinese big tech, like their American peers, they are investing

...