Neither the US nor China can claim the top spot in artificial intelligence without help. That's according to Mattie Zhao, co-head of China equities at Bank of America. She says both economies rely on deeply intertwined global supply chains and need international partners, even with their own strengths.

Global Supply Chains Are Key

Zhao points out that the AI ecosystem is built from a web of interdependent links—from semiconductor design and manufacturing to data center infrastructure and industrial hardware. Breaking these connections or trying to keep everything within one country is nearly impossible: supply, tech, and expertise are spread across the globe.

China's Strengths and Weaknesses

Zhao says China has made big strides in energy infrastructure and manufacturing equipment. But the country is still dependent on foreign suppliers for advanced chips—a critical resource for training and deploying cutting-edge AI models.

What This Means for the AI Race

Bank of America's take highlights a real crossroads for the world’s biggest economies: dominating AI tech isn’t just about pouring money into national projects. It also means having access to global components, know-how, and markets. With tech and labor divided worldwide, steady progress in AI is way more likely with outside partners in the mix.