China’s AI Price War Is a Myth. Here’s the $130 Billion Truth.
The narrative that Chinese AI is trapped in a discount-driven price war is officially obsolete. In just eight months, China’s AI revenue surged from $4B to $13B—not by slashing prices, but by doubling them. With massive overseas expansion and DeepSeek pulling an 82.9% gross margin, the era of blind ARR multiples is dead. Revenue quality is the only truth left.