From labs to listings: US-China AI race makes capital markets the new battleground

South China Morning PostCenter-RightEN 1 min read 100% complete by Themis Qi,Zhang ShidongJanuary 24, 2026 at 03:00 AM

AI Summary

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The US-China AI rivalry has expanded into capital markets, with IPOs and listings becoming a key indicator of which country's tech ecosystem receives funding and credibility. Both Washington and Beijing are promoting their own technology sectors, leading to a surge in tech companies seeking public offerings. In the US, potential blockbuster IPOs from companies like OpenAI, Anthropic, and SpaceX are anticipated. Simultaneously, China is seeing a rise in AI developers and chipmakers listing in Hong Kong and mainland China, driven by Beijing's push for technological self-reliance. This competition reflects broader industrial and technological tensions between the two nations, influencing investment rules and national security concerns. The increased activity in capital markets is expected to potentially lead to a record-breaking year for tech listings.

Key Entities & Roles

Key Player Opposition Context

Joel Cheung 50% Washington 50% Economist Intelligence Unit (EIU) 50% Beijing 60% Hong Kong 60% Elon Musk 60% SpaceX 70% OpenAI 70% Anthropic 70% United States ×390% China ×390%

Keywords

us-china tech rivalry 90% capital markets 80% artificial intelligence 80% technology listings 70% initial public offerings 70% technological self-reliance 60% tech floats 60% funding 50% openai 40% chipmakers 40%

Sentiment Analysis

Neutral

Score: 0.10

Source Transparency

Source

South China Morning Post

Political Lean

Center-Right (0.50)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

United States

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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us-china tech rivalry capital markets artificial intelligence technology listings initial public offerings technological self-reliance tech floats funding openai chipmakers

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