From labs to listings: US-China AI race makes capital markets the new battleground

The US-China tech rivalry is no longer confined to the laboratories, fabs and boardrooms of the industry’s biggest names – the artificial intelligence battlefield has now expanded into the capital markets, where ambition is priced in real time. As Washington and Beijing push rival technology ecosystems, initial public offerings and listings are becoming a high-stakes referendum on who gets funding, credibility and, most of all, the runway to scale. Across the Pacific, the contest has been...