US and Chinese investors are maintaining substantial financial links even as Washington and Beijing build separate artificial intelligence supply chains. Wall Street banks acted as bookrunners on 19 Chinese high-tech equity capital market deals worth $17.2 billion this year, nearly 30% of sector issuance, while US stocks—especially semiconductors—remained a favored destination for China’s outbound mutual funds. US equity held by Hong Kong residents and mainland Chinese rose 23% in the past year to more than $750 billion. The cross-border exposure gives investors on both sides an interest in stable relations, but could unwind sharply if tensions further divide AI development. AI is expected to feature when Donald Trump and Xi Jinping meet this week in Washington. US Treasury Secretary Scott Bessent said he and Chinese Vice Premier He Lifeng discussed creating a US-China AI dialogue, including a notification system for common goals and threats.