Star founders, Beijing officials and deep-pocketed financiers converge on Shanghai by the thousands this weekend to attend China’s most important AI summit. At the top of the agenda: how to propel Beijing’s ambitions to leapfrog the US in artificial intelligence — and profit off that drive.

DeepSeek and Trump’s AI plan grabbed attention at China’s biggest AI forum, showing the growing tech rivalry between the U.S. and China.

The new framework suggests a strong US open-source AI network has “geostrategic value” because it could underpin businesses and academic research globally.

China’s Premier Li Qiang called for urgent global consensus on artificial intelligence safety and governance, announcing a new international cooperation body.

China wants AI to be openly shared and for all countries and companies to have equal rights to use it, Li said, adding that Beijing was willing to share its development experience