U.S. rapidly loses global edge in AI startup investment deals

Why it matters: AI is a major growth force for American companies and "of paramount importance to maintaining the economic and national security of the United States" President Trump said in an executive order signed in February dubbed the "American AI Initiative." The big picture from Axios emerging tech reporter Kaveh Waddell: The U.S. had a head start in commercializing AI, thanks to unmatched talent and eager VC money. What's happening: In addition to the Chinese government allocating significant spending to AI, more new companies are being started in a raft of different countries and raising equity, analysts from CB Insights tell Axios in an email. Yes, but: The total amount of funding is still tilted heavily toward the U.S. -- with the exception of a handful of Chinese mega-companies like TikTok owner ByteDance, which is the top-funded AI startup in the world. The U.S. funding lead is likely to continue because of its concentration of AI experts.