Chinese tech groups, including Alibaba (BABA), Bytedance, and Meituan (MPNGF), have been expanding their offices in California, seeking to poach staff from rival U.S. groups to help them make up ground in the race to profit from generative AI, Eleanor Olcott of The Financial Times reports. The push comes despite U.S. efforts to stifle their work, such as the U.S. ban on exports of the highest-end Nvidia (NVDA) AI chips.
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