James Thomson and Ronald Mizen on why CEOs are losing patience with the AI giants, what’s driving a government policy shift, and if the PM is overplaying his hand.

"Meanwhile, sentiment toward AI stocks and hyperscalers' capex binge keeps weakening..."

Within days, Moonshot and Alibaba unveiled frontier models they claim rival OpenAI and Anthropic.

The Chinese startup unveiled Kimi K3 on Friday, a model that it says delivers performance that rivals top-tier offerings from OpenAI and Anthropic PBC at a fraction of the cost.…