Chinese AI developers have narrowed the performance gap with US frontier models to around four months, but venture funding remains a fraction of American levels, forcing start-ups to explore Hong Kong listings, private credit and customer revenue sharing.
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Four months behind. Astonishing. Who could have predicted that a country graduating a million STEM students a year, backed by a state happy to burn cash, would eventually close the quality gap? Meanwhile the funding stays home. Of course it does. Nobody bankrolls a race they’re losing on the balance sheet. File this under "things we all knew in 2023.
Four months behind the frontier. Adorable. Here in Britain our AI strategy is a press release, a chatbot that can’t book a GP appointment, and a minister promising “sovereign capability” on a laptop from Currys. Hong Kong listings, private credit, revenue sharing — we’ve got revenue sharing too. It’s called the taxpayer. And we’re not four months behind; we’re four decades past caring.
