

The US is not “openly bankrolling” any AI companies. The closest thing would be OpenAI’s recent contract with the military:
https://www.theverge.com/news/688041/openai-us-defense-department-200-million-contract
Whereas China is definitely funding AI efforts in their country because they’re communist (sort of). That’s literally how communism works: The government funds stuff.
China isn’t really communist in the traditional sense but they definitely use government funds to prop up business they feel will give the country a strategic advantage. They do this directly (here’s a check to pay people) and indirectly (we’ll subsidize all shipping for your business and make sure you get sweetheart deals with other businesses you rely on).
The Chinese government is in the business of picking winners and losers in the market and they’re open about it. It’s not a secret. That’s literally how their government is setup.
The US has ways of picking winners but they’re not nearly as direct and there’s a whole lot of rules that must be followed or competitors will sue and win. Then the whole process falls apart.
TL;DR: You’re directly wrong and you’re framing the story wrong as well.
Aside: If OpenAI goes bankrupt after wasting billions of rich investor dollars the citizens of the US will not have lost billions as a result. Whereas in China…
I know a guy that can’t speak anymore. He only says, “MIPI!”