US rivals

Chinese AI models are narrowing the cyber gap with US rivals, according to a UK agency. The agency warns that cheaper open models could reduce the time companies have to patch critical vulnerabilities.

Chinese President Xi Jinping urged global cooperation on AI development and governance, warning against single-country dominance during a conference in Shanghai. The statement follows growing competition between Chinese and US AI firms and concerns about AI's misuse in military, cyber, and terrorist contexts.

The EU is preparing to eliminate barriers for banks' cross-border capital flows through a draft report by the European Commission. The initiative aims to enhance the performance of European lenders relative to their US counterparts.

China's chip design software firms are supporting Huawei's new architecture to produce competitive chips, but analysts caution that US rivals maintain a strong market position. Empyrean Technology, a major EDA provider, has introduced Argus, a physical verification tool aligned with this initiative.