China AI bubble bursts

• Reuters reports that China's AI bubble has already burst.
• China's STAR50 index, tracking the country's biggest AI and chip companies, has crashed 40% in less than four months, wiping out about $480 billion in market value.
• China's main CSI 300 index is now in a bear market, down 20% from its June high, and Chinese stocks have lost $3.5 trillion in total value since their May peak.
• China's two listed AI model companies, MiniMax and Zhipu, have lost a combined market value.

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