China becomes first country with a burst AI bubble after $480-billion meltdown

China tech stocks saw a $480-billion meltdown as the STAR50 index of AI and semiconductor leaders dropped by 40% in under four months. With many experts calling China the first country to see its AI bubble burst, the country's broad blue-chip index has also dropped about 20% from highs seen in June. There's been no obvious selling trigger in China.