DAILY SITUATION RECAP: Xi Jinping speaks at the 2026 World AI Conference in Shanghai. The speech from China’s paramount leader explicitly endorses open-source, accessible AI; global governance; and AI control and risk, and says China will make sure that “this fine steed of AI gallops with both speed and stability”. Xi announced the establishment of the World AI Cooperation Organization, made up of 29 mostly developing countries including Russia, Brazil, Pakistan, and Vietnam. WAICO members…