Editorial companion

What stands out

Kai-Fu Lee, who ran teams at Apple and Microsoft and now invests across China, told Mishal Husain that Chinese artificial intelligence (AI) firms are narrowing the gap with U.S. rivals despite years of American chip restrictions. He treats the contest as more than geopolitics, calling it a transformation of work, product design and who captures the profits, and he even argued American companies will likely make more money even as Chinese models gain parity. That mix of open-source momentum, chip availability and regulatory divergence is what will actually move revenue and margins at AAPL and MSFT over the next few years.