China leads US in everyday AI apps but firms are overvalued, experts say

China holds an edge over the US when it comes to getting artificial intelligence applications into the hands of everyday users, according to tech executives and investors, though they warn that Chinese AI firms are looking increasingly overvalued. China still lagged in computing power but was only “100 days behind” the US in frontier AI model capabilities, according to Chi Zhang, general manager of finance industry at the Alibaba Cloud Intelligence Group, speaking on Thursday