China's strategy for competing with the U.S. on AI revolves around huge clusters of Huawei chips and cheap energy.

The privately held company has reached a valuation of $15 billion, as Liang wants to push the boundaries of technology.

Tencent Holdings Ltd. and Hon Hai Precision Industry Co. are expected to show how stronger AI demand lifted earnings, signaling optimism for Asia’s broader ambitions in the field amid a tug-of-war for AI dominance against US rivals.

By Lawrence White LONDON (Reuters) -Tech-heavy stock markets were heading for their biggest weekly fall in seven months on Friday, as investors fretted over the sustainability of a rally in artificial intelligence stocks.

China's Pony.ai on Thursday saw its shares drop over 12%, while rival WeRide fell nearly 8% as the autonomous driving companies began trading in Hong Kong. Pony.ai and WeRide, which are already listed in the U.S., raised 6.71 billion Hong Kong dollars (about $860 million) and HK$2.39 billion, respectively in their initial public offerings.