U.S. AI Exports Program Sees 78 Applications Amid China Competition

The U.S. is competing with China in the Asian AI market, aiming to prevent China from becoming the leading supplier. As of July 29, the Commerce Department's International Trade Administration reported receiving 78 applications for the American AI Exports Program, which was lower than expected. U.S. involvement at the APEC Digital Weeks event in Chengdu was subdued, with Google and Meta being the only U.S. companies present. This situation highlights challenges for the U.S. in showcasing its AI technologies and securing partnerships in Asia, which could impact investment strategies for U.S. firms (GOOGL).