One week after Trump announced a colossal government-backed AI investment plan, an obscure Chinese startup has lobbed a grenade into the US tech sector. With the stock markets in turmoil, the president’s protectionist plans are off to a rocky start.

The European economy is facing its biggest crisis in a decade, with hundreds of thousands of manufacturing jobs at risk. European capitalism has entered into a steep decline, and will be unable to weather the geopolitical storms that surround it.

Earlier this month, Keir Starmer announced his vision for a “decade of national renewal” powered by artificial intelligence. But can Britain become an “AI powerhouse” as Starmer hopes, or is this just austerity with a shiny new label?