Here’s a decent resource if you care to read about, rather than the podcast: https://ainowinstitute.org/publications/research/1-3-ai-arms-race-2-0-from-deregulation-to-industrial-policy
I would summarize it to conclude: The “AI arms race” is not an objective technological fact so much as a politically useful narrative that has helped align government policy with the interests of large AI companies.
My opinion is that we should be a lot more critical of this narrative.