Billionaire Ray Dalio tells Americans from stage at a New York event: The problem with AI companies in the US vs China is …

Billionaire investor Ray Dalio who predicted the 2008 recession has now cautioned America’s biggest artificial intelligence companies risk falling behind China because of their obsession with profitability. According to a report by Business Insider, speaking at the Forbes Iconoclast conference in New York, Dalio contrasted the approaches of US firms like OpenAI and Anthropic with their Chinese rivals, saying Beijing views AI as a public utility rather than a profit engine.

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