As artificial intelligence (AI) continues to reshape industries and economies worldwide, two global powers—the United States and China—are charting starkly different courses on how to regulate this transformative technology.

The new framework suggests a strong US open-source AI network has “geostrategic value” because it could underpin businesses and academic research globally.

Star founders, Beijing officials and deep-pocketed financiers converge on Shanghai by the thousands this weekend to attend China’s most important AI summit. At the top of the agenda: how to propel Beijing’s ambitions to leapfrog the US in artificial intelligence — and profit off that drive.