Last week, China invited 29 countries to sign an agreement establishing the China-backed World AI Cooperation Organization at the 9th World AI Conference. Attending for the first time, President Xi Jinping announced that China will welcome outside investment to develop and govern an open AI that should benefit the international community, namely the Global South. But the AI race between China and the United States is being run on two very different tracks. And that means, there will be two versions of AI in the world: One open, and one closed.