And even if they didn't AI is rapidly becoming a generic commodity. Just build a datacenter and plug in an off-the-shelf LLM. There's nothing to really catch up on other than infrastructure, which will be radically cheaper when the bubble pops. There is no crucial or indispensible IP for countries or even companies to own.
Given the current inflated costs (and the energy crisis), the best thing to do is wait until this shakes out and build in the future with a clearer understanding of the destination.