The US sees the AI race as a finish line to cross first. But is that what makes a "winner"? George Yeo, former foreign minister of Singapore, argues that while the US is chasing dominance, China is turning AI into a lived reality, from cleaner air to smarter industries. The losers of the US approach, he warns, could be the Magnificent Seven. "Once China makes large language models open-source, Big Tech's trillion-dollar valuations could be at risk."