The obscure hedge fund from Hangzhou, which built a rival to ChatGPT as a side project and claims it only cost $6 million, is the result of a deliberate attempt to invest in the next generation of technology.
This isn’t a coincidence. This is the policy.
Artificial intelligence (AI) relies on data, science PhDs, and microchips as its raw materials. China may already be ahead on the last two.
Every month, Chinese colleges produce an average of about 6,000 PhDs in STEM fields (science, technology, engineering, and mathematics). It is roughly 2,000–3,000 in the US and 1,500 in the UK.
Generally speaking, China is filing more patents than the rest of the world combined. China submitted 1.7 million patent applications in 2023.
