""China basically has unlimited access to cheap energy, whereas the U.S. has this massive energy bottleneck," Jefferies's global head of equity research Chris Wood said to Fortune."
""We've actually reduced our exposure to U.S. tech," Mohit Kumar, Jefferies' global macro strategist, told Fortune at the investment bank's Asia Forum in Hong Kong last week. "We believe that China is the big winner in this tech war for a number of reasons: valuation, wider adoption of AI, an advantage in power generation.""
Jensen Huang's praise for OpenClaw significantly impacted shares of MiniMax and Zhipu AI, which surged over 20%. Analysts now view China as a strong contender in AI, citing advantages like lower energy costs and increased investment. Jefferies' Mohit Kumar noted a shift away from U.S. tech investments, emphasizing China's potential as a leader in the tech war. The country is projected to have substantial spare power capacity by 2030, contrasting with the U.S.'s energy challenges, which affect data center operations.
Read at Fortune
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