BofA Analyst: Neither US Nor China Can Win AI Race Alone

During a chat with the South China Morning Post on Monday, Matty Zhao, who co-leads China equity at Bank of America, pointed out that for either the US or China to lead in artificial intelligence, they need to work together globally. He mentioned that the global tech supply chains are really interconnected. Even though China has improved its power grids and manufacturing capabilities, it still depends on other countries for advanced chips, memory, and certain high-end materials. On the other hand, the US is dealing with issues like an old power grid, which is usually 30 to 40 years behind compared to China’s 15 to 20 years. Zhao made these comments ahead of an important summit this week, as US data centers are facing criticism for increasing power costs.