Chinese government will spend 137B on its AI
China has created a new AI Industry Development Action Plan . The news was announced in response to the Stargate announcement. Everyone saying DeepSeek training their SOTA model for 5.5M is bearish for NVDA, 137B is what the Chinese gov thinks is needed to stay competitive. The arms race for compute has just started.
Adding the link in comment because adding it on the post is causing it to get deleted.
Edit: Folks asking for the English translation of the post -
According to the Bank of China’s Action Plan to Support the Development of the Artificial Intelligence Industry Chain, the Bank of China plans to provide special comprehensive financial support of not less than 1 trillion yuan for all kinds of subjects in the entire artificial intelligence industry chain in the next five years, of which the total of stocks and debts is not less than 300 billion yuan, and at the same time to establish a phase with artificial intelligence technology innovation Adapted special institutional guarantee to serve the financial needs of all links in the industrial chain. Empowering the country to be self-reliant in science and technology
As the first bank to establish a major special empowerment mechanism to support science and technology, the Bank of China launched the “1+1+N” full-cycle service. With the support of relevant ministries and commissions, the Bank of China has established direct docking cooperation with major projects in artificial intelligence technology to provide “one-stop” customized financial services covering “basic research-reachievement transformation-industrial application” for “N” enterprises participating in innovative technology, and continuously improve the science and technology financial body suitable for scientific and technological innovation. System mechanism. Service artificial intelligence element supply
The Bank of China gives full play to the comprehensive characteristics and consolidates the computing power and data supply foundation of the artificial intelligence industry. Empower the development of intelligent computing infrastructure through diversified financial instruments such as stocks, loans, debt, insurance and rent. Focus on the national computing hub node planning, support the construction of intelligent computing centers and supporting facilities and park infrastructure. Provide financial guarantees such as property insurance and comprehensive insurance for the first (set) of major technical equipment to improve the risk control ability of enterprises. Promote the innovation of artificial intelligence technology
The Bank of China provides full-life cycle differentiated financial services for technologically innovative enterprises such as models and algorithms. Build a one-stop service system of “Bank of China M&A+” to promote the integration and upgrading of artificial intelligence technology and industrial resources. Integrate the advantages of Bank of China Group AIC Equity Investment Fund, Bank of China International and Bank of China Securities at home and abroad, establish an integrated service system of “equity + commercial bank + investment bank”, help key core technology enterprises open up capital market financing channels, and cultivate industrial chain “unicorns” and listed enterprises. Promote the application of artificial intelligence scenarios
The Bank of China increases its support for the demonstration and application of artificial intelligence technology. Open up and create application scenarios such as intelligent marketing, intelligent operation and intelligent risk control. Build a docking platform for the upstream and downstream of the industrial chain, and create differentiated supply chain financial service solutions in different scenarios. Support the growth of new tracks such as “artificial intelligence + robot”, “artificial intelligence + low-altitude economy”, “artificial intelligence + biological manufacturing” and “artificial intelligence + new materials”, and cultivate and develop new kinetic energy. Give full play to the advantages of the Bank of China’s global business, and provide professional cross-border financial support for artificial intelligence enterprises to “go out” and “introduce” through the “one-point intervention, global response” platform. Bank of China will take the service artificial intelligence industry chain as a pilot, build an all-round and multi-level financial service system, continuously create a new paradigm of science and technology finance, fully support key core technologies, serve the development of the whole artificial intelligence industry chain, and promote the high-level cycle of “science and technology-industry-finance”, and build a modern industrial system, Promote high-quality development and contribute continuous financial momentum.