Star founders, Beijing officials and deep-pocketed financiers converge on Shanghai by the thousands this weekend to attend China’s most important AI summit. At the top of the agenda: how to propel Beijing’s ambitions to leapfrog the US in artificial intelligence — and profit off that drive.

The Trump administration published its much-anticipated AI Action Plan Wednesday, signaling a sharp shift away from former President Biden’s cautious approach to addressing the risks of AI, and toward a focus on speed,