China's AI Infrastructure Value Gap: 85% of Global Compute Traffic, Only 10% of Market Revenue

Chinese AI models have quietly carried 85% to 89% of global agent and code generation traffic, yet monetized revenue accounts for only 10% to 16%—this is precisely the most undervalued arbitrage opportunity at present. The combined market cap of U.S. AI compute assets totals $175 billion, while comparable Chinese assets stand at only about $20 billion, with CoreWeave alone valued at nearly four times the combined worth of China's top three compute companies. GDS's record bookings have already been the first to validate the fundamental inflection point, with valuation discounts and catalysts emerging in tandem.