Thank you, Xi: Cheap Chinese AI may be the best thing to happen to American tech companies.

At the World Artificial Intelligence Conference in Shanghai, Chinese President Xi Jinping promoted an open approach to the technology. Reuters Cheap, open Chinese AI models are a boon to Silicon Valley. That's especially true for software companies, which rallied as new Chinese models came out. Venture capitalists desperately want cheap Chinese AI, which helps US startups. A lot of the AI narrative has focused on the companies it might destroy. Software firms, the argument goes, are being…