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Last year for the first time ever, the U.S. share of global artificial intelligence startup funding deals fell to less than half the world's total.
Why it matters: AI is a major growth force for American companies and "of paramount importance to maintaining the economic and national security of the United States" President Trump said in an executive order signed in February dubbed the "American AI Initiative."
The big picture from Axios emerging tech reporter Kaveh Waddell: The U.S. had a head start in commercializing AI, thanks to unmatched talent and eager VC money.
What's happening: In addition to the Chinese government allocating significant spending to AI, more new companies are being started in a raft of different countries and raising equity, analysts from CB Insights tell Axios in an email.
Yes, but: The total amount of funding is still tilted heavily toward the U.S. — with the exception of a handful of Chinese mega-companies like TikTok owner ByteDance, which is the top-funded AI startup in the world. The U.S. funding lead is likely to continue because of its concentration of AI experts.
ICYMI: AI startups generated their highest level of funding ever in this year's second quarter, $7.4 billion, CB Insights' data shows.
UBS' latest survey of high net worth investors and business owners in the U.S. shows concerns about the political environment are the lowest they've been in the history of the survey.
Details: While the political environment was still the top worry in the survey of business owners and wealthy investors' "Country/Macroeconomic Issues," beating out concerns such as health care costs, tax increases and social security, the percentage of investors who identify it as a concern has fallen significantly.
Disney's 2019 movie run has broken the all-time annual global box office record just 7 months into the year. And with more big-budget blockbusters still to come this year, and already in possession of more than a third of the world's total box office receipts, the company seems unstoppable.
What's happening: Disney's acquisitions of Lucasfilm and Marvel have delivered huge wins for the company, but it's been the ability to produce live-action remakes from its own catalogue that has set the table over the last decade.
What's next: Disney is releasing a sequel to “Maleficent” in October and a live-action version of "Lady and the Tramp" in November. The company has also announced a live-action remake of “Mulan” in 2020.
Of note: Disney broke its own box office record this year, which it set in 2016 when the studio recorded the first ever $3 billion domestic box office haul and brought in a total of $7.61 billion worldwide.
Data leaked from law firm Conyers Dill & Pearman’s former Mauritius branch shows the latest tax haven scandal comes from the tiny African nation.
What it means: Sequoia, an early investor in the likes of Apple and Google, "invested $1.2 billion in more than 75 Indian companies with combined revenue of more than $3.5 billion" by 2013 largely through its tax shelter in Mauritius, according to reporting from Quartz.