Hedge funds were already waiting to see if a U.S.-fostered, home-grown artificial intelligence boom would continue as China’s new AI model was emerging to challenge U.S. dominance in the sector, a Goldman Sachs note said. Nasdaq futures slumped and technology shares slid on Monday as the swelling popularity of a Chinese discount AI model wobbled investors’ faith in the profitability of what the United States has to offer. Last week, hedge funds fled their bets on tech stocks, a Goldman Sachs note from Friday and seen by Reuters Monday showed.