No. The US has the lead because its competitive advantage in the world economy is exporting innovation. That's what it's good at. The Chinese economy is outperforming the American one in many ways, but the US enjoys a more open society and economy, which encourage innovation. No one would ever say that the West should be complacent, but people are making a big deal out of the Chinese AI push, exaggerating it in a way, and that aligns with more widespread fear-mongering about China. In reality, corruption, chaos and censorship continue to hold China back more than is being reported.