US investors have plowed billions into China’s AI sector, report shows
WASHINGTON听–听US听颈苍惫别蝉迟辞谤蝉听including the investment arms of Intel Corp. and Qualcomm Inc.聽accounted for nearly a fifth of investments in Chinese artificial intelligence companies from 2015 to 2021, a听谤别辫辞谤迟听showed on Wednesday.
The document, released by CSET, a tech policy group at Georgetown University, comes amid growing scrutiny of US聽investments in听础滨, Quantum and semiconductors, as the Biden administration prepares to unveil new restrictions on US聽funding of Chinese tech companies.
According to the听谤别辫辞谤迟, 167 US听颈苍惫别蝉迟辞谤蝉听took part in 401 transactions, or roughly 17% of the investments into Chinese听础滨聽companies in the period.
Those transactions represented a total $40.2 billion in investment, or 37% of the total raised by Chinese听础滨聽companies in the 6-year period. It was not clear from the听谤别辫辞谤迟, which pulled information from data provider Crunchbase, what percentage of the funding came from the US听蹿颈谤尘蝉.
Qualcomm Ventures and Intel Capital were involved in 13 and 11 investments in Chinese听础滨聽companies respectively, outpaced by GGV Capital which led US聽firms with 43 total investments in the听蝉别肠迟辞谤, the data showed.
The Biden administration is expected to unveil an executive order this year curbing some US聽investments in sensitive Chinese tech industries, as hawks in Washington blame American听颈苍惫别蝉迟辞谤蝉听for transferring capital and valuable know-how to Chinese tech companies that could help advance Beijing’s military capabilities.
According to the听谤别辫辞谤迟, US聽investor GSR Ventures invested alongside听颁丑颈苍补’蝉听IFlytek Co. Ltd.聽in a Chinese听础滨聽company after the speech recognition firm was added to a trade blacklist. Silicon Valley Bank and Wanxiang American Healthcare investments group made investments in Chinese听础滨聽firms alongside听颁丑颈苍补’蝉听Sensetime before the powerhouse in facial recognition technology was added to the same trade blacklist.
Both companies were added to the blacklist, which effectively bars them from receiving US聽tech exports, in 2019 for alleged human rights violations related to the repression of Uighur Muslims.
Some of the largest investments include Goldman Sachs’聽solo investment in 1KMXC, an听础滨-enabled robotics company, as well as an investment by three US-based VC firms in Geek+, an autonomous mobile robot company, the听谤别辫辞谤迟听showed.
Only one Chinese听础滨聽company that received funding from US听颈苍惫别蝉迟辞谤蝉听is involved in developing听础滨聽applications for military or public safety uses, according to CSET. – Reuters
