China’s $8.2 Billion AI Fund Aims to Undercut U.S. Chip Giants

China has unveiled an $8.2 billion artificial intelligence funding initiative aimed at strengthening its domestic AI ecosystem and reducing reliance on U.S. semiconductor firms like Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO).

The new state-backed AI Industry Investment Fund will prioritize early-stage projects while also targeting core parts of the AI supply chain, including computing infrastructure, algorithms, data resources, and applications. Robotics will also be a major…