The race for global domination in AI
- Jan 4
- 1 min read
Government officials in Hangzhou have grand ambitions to make their city in eastern China a global center for artificial intelligence—and the funds to try to make it happen. In June, they pledged $140 million to subsidize AI firms that operate in town.
Not to be outdone, Shanghai promptly followed in July with its own $140 million subsidy program, and inaugurated an “AI innovation town” two months later with low-cost office space for start-ups in the sector.
In the south, Shenzhen was already doling out $70 million a year to support local AI firms and research, while Chengdu, in the west, invested $42 million in a start-up called Zhipu AI to bring a new model-training center and research facility to the city.
This frenzied spending spree follows a playbook that has proved successful in many industries in China: The state acts as cheerleader, financier, and protector, uniting the country’s bureaucrats, executives, and entrepreneurs in a mission that Beijing believes is vital to China’s future.
Read the full story | THE ATLANTIC
