On October 26, 2026, Reuters reported that Chinese AI companies are down about 40% since June, with Unitree down roughly 50% since its IPO a few months earlier. The discussion compares the roughly $100 billion combined market cap of Chinese AI labs with $4 trillion to $5 trillion in the US, and points to real estate-heavy household wealth and capital controls as reasons the market is harder to pump. The CSI 300 is now down 20% since its June peak and a top Chinese tech index is down 33% this year. No company has responded on the record, and it is not yet established whether the slide reflects earnings, sentiment or both.