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China to Invest $98 Billion in AI Growth

6/28/2025

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Summary

Story summary

China is set to unleash a staggering 600-700 billion yuan (US$84-98 billion) on artificial intelligence (AI) in 2024, reflecting a remarkable 48% growth. With the government investing 400 billion yuan and major internet companies contributing 172 billion yuan, this momentum is fueled by the triumph of AI start-up DeepSeek, celebrated for its innovative and affordable models.

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Story summary

China is set to unleash a staggering 600-700 billion yuan (US$84-98 billion) on artificial intelligence (AI) in 2024, reflecting a remarkable 48% growth. With the government investing 400 billion yuan and major internet companies contributing 172 billion yuan, this momentum is fueled by the triumph of AI start-up DeepSeek, celebrated for its innovative and affordable models.