In Foreign Affairs, historian Niall Ferguson, researcher Lisa Klaassen, and former Google CEO Eric Schmidt cast the US and China as AI empires and every other country as a dependency. The race won't be decided by breakthroughs but by who can bankroll it. US corporations alone plan to spend more than $600 billion in 2026. Yet mounting debt, protests against data centers, and a potential chip crisis over Taiwan could stall both superpowers.
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Ex-Google CEO Eric Schmidt calls OpenAI and Anthropic modern colonial trading companies