AI Summit in Shanghai: DeepSeek and Trump’s Vision Highlight Escalating US-China Rivalry

This week, Shanghai transformed into a global hub for artificial intelligence as thousands of tech leaders, entrepreneurs, and government officials gathered for the annual World Artificial Intelligence Conference (WAIC). Two topics dominated the discussions — Chinese AI startup DeepSeek, which has drawn global attention with its powerful low-cost model, and Donald Trump’s new AI Action Plan, aimed at cementing the United States' dominance in this critical field.

The Race for AI Supremacy Intensifies While Beijing accelerates its efforts to overtake the U.S. in AI development, President Donald Trump recently signed a comprehensive package of AI reforms that removes regulatory hurdles and boosts infrastructure for AI-powered data centers. “From this day forward, it is the policy of the United States to do whatever it takes to become the world leader in artificial intelligence,” Trump declared, with Nvidia CEO Jensen Huang also in attendance. Across the Pacific, China is rapidly catching up. Local startup DeepSeek, backed by tech giants like Alibaba and agile newcomers like Minimax, is challenging the notion that top-tier AI requires billions in chips and server farms. While DeepSeek and its founder Liang Wenfeng were not listed on the official schedule, their influence permeated nearly every conversation at the event.

Eyes on DeepSeek R2 DeepSeek made headlines earlier this year with its simple yet high-performing AI model. Now, all eyes are on its next release — DeepSeek R2. However, the release has been delayed, reportedly due to technical issues or Liang’s perfectionist standards. Despite this, the company remains a symbol of China’s AI aspirations, having received public praise from President Xi Jlnping — a rare endorsement that underscores its national significance.

Robots and Venture Capital Dominate the Expo Floor Aside from language models, humanoid robots were a major highlight in Shanghai. Companies like UBTech, Unitree, and AgiBot showcased robots with surprising dexterity. One demonstration showed UBTech’s Walker S2 changing a battery — a choreographed clip that signaled the country's ambitions and progress. With unit prices falling below $10,000, Chinese companies are now targeting mass production, a feat that American firms have yet to achieve at a viable commercial scale. Meanwhile, venture capital is roaring back. Firms such as Lightspeed China Partners and Monolith Management are raising over $2 billion in USD-denominated funds, aiming to attract global investors seeking a foothold in China’s tech resurgence.

American Firms Stay in the Background Unlike 2024 — when Tesla wowed crowds with its Cybertruck and Optimus robot — U.S. tech giants remained largely in the background this year. Notably, Elon Musk was absent from the speaker list. However, AI pioneer Yoshua Bengio is set to participate. China, by contrast, seized the opportunity to showcase its global AI agenda. A high-level session on AI governance focused on ethical and responsible AI development, aligning with Beijing’s push to shape global norms. According to Tom Nunlist of Trivium China, the country has used WAIC since 2018 as a platform to claim technical and political leadership in AI. As the U.S.-China AI rivalry reaches parity, he said, the urgency of this power struggle has never been greater.

Who Will Lead the AI Future? Analysts estimate that China may now be only months behind the U.S. in AI development — a significant narrowing of the gap, especially compared to more pronounced divides in sectors like semiconductors. Beijing’s ambitions are crystal clear: AI should become a $100 billion industry by 2030. President Xi recently called for breakthroughs in advanced chipmaking and fundamental AI research — echoing Trump’s sense of urgency and determination.

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