Chinese internet giants set to reap artificial intelligence profits in 2 to 3 years: UBS

Internet platforms with vast data and large user bases will capture a larger share of artificial intelligence profits in two to three years, even though macro headwinds have temporarily fuelled investor caution over aggressive AI spending by Chinese tech giants, UBS analysts said. Investors have been cautious over a weak macro environment in the second half of the year, and greater AI spending for hardware and infrastructure would drag down short-term profits, but the industry’s power balance...