T. ROWE PRICE BETS ON CHINA'S AI SUPPLY CHAIN

The fund's strategy targets Chinese firms that supply components and services to AI companies rather than focusing on direct AI developers. This approach capitalizes on the region's expanding infrastructure investments as China accelerates its AI capabilities. Greater China's AI supply chain remains underdeveloped compared to global standards, presenting what the fund sees as an investment opportunity. Companies in semiconductor manufacturing, data center equipment, and related services stand to benefit from increased regional demand. The move reflects broader investor confidence in China's technology sector despite geopolitical tensions and regulatory uncertainties. T. Rowe Price's positioning suggests the fund managers believe the investment cycle in the region has runway remaining, with supply chain companies likely to see sustained demand as AI adoption deepens across China and the broader Asia-Pacific region.