Artificial intelligence is already changing industries and markets, though full humanlike AI, called artificial general intelligence (AGI), is not here yet. Matt Shumer, a start-up founder, wrote on X that this AI shift could be "much, much bigger" than the Covid-19 impact. This warning has unsettled US tech investors. Software-as-a-service (SaaS) stocks in the US fell as worries grew that AI might disrupt their business models. In contrast, Chinese tech stocks have stayed steady. Chinese AI models are improving quickly and gaining on US counterparts. Some Chinese companies tied to AI are attracting new investors. For example, cultural and content firms saw their stock prices rise after ByteDance launched Seedance 2.0, a video-generation AI model. This new tool is expected to boost productivity and simplify work in content creation. Overall, while US markets are jittery over AI changes, Chinese markets remain calm for now.