AI funding fallout impacts China's elite
AI funds in China experienced their largest shake-up in years, as a sharp sell-off caused significant losses for wealthy investors who had bet on this sector. Many funds declined by more than 20% over just a few weeks, after having gained over 50% the previous year. The accumulation of investment positions and reduced exposure fueled the selling wave, despite intervention from Chinese authorities and market support campaigns. Meanwhile, institutions warned that poor performances by global AI companies could lead to a broad correction in high-risk assets.
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