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I think it's about making the economy more competitive, right? I don't think it's about,

you know, having that one breakthrough that will sort of transform the balance of power

between the U.S. and China. I think this is, you know, like Karen hinted, this is a very long race and any

advantage that you can gain over the other, whether it's, you know, economic or technological

or military, and I think all those are linked. You know, it helps. Every country in the developed

world is trying to forge ahead in the AI arms race.

But China makes a particularly interesting case study.

Its tech giants, Huawei and Alibaba and others, are investing heavily,

but at a much smaller scale than their US counterparts.

Just to run through some of those figures, China is expected

to spend around $100 billion on AI Cappex in 2025 versus the roughly 350 billion in

CAPEX, the big hyper-scalers in the US like Meta, Microsoft, Amazon and Alphabet are going to spend.

Even Open AI has recently committed to spending a trillion dollars on infrastructure,

deals and partnerships.

So there is actually a lot of competition in China as well.

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