China's AI-related exports hit monthly record of $359 billion, with companies earning roughly $500 million per hour

Chinese shipments abroad climbed 14% from a year ago to a monthly record of $359 billion in April. Chip exports surged 100% and sales of automatic data processing equipment and parts (including laptops, tablets and their components) jumped 47%.

Goldman Sachs Group Inc. and Nomura Holdings Inc. estimate that China's overseas sales of semiconductors, computers and other products closely related to artificial intelligence accounted for about half of China's export growth in April.

China has emerged as the world's largest supplier of AI-related goods last year, though it remains a net importer of some critical technologies such as advanced chips. During Trump's current term, China's exports of integrated circuits have roughly doubled in value, topping $31 billion in April for the first time ever.