US tech giants funding China's race to supremacy in AI — the 'battlefield of the future'


PREMO Member
A new report released by researchers at Georgetown University's Center for Security and Emerging Technology shows many U.S. companies are investing inordinate sums of money in Chinese companies. Between 2015 and 2021, 167 U.S. investors participated in over 400 investment transactions involving Chinese AI companies, representing 17% of the global total of 2,299.

Investors have included Intel and Qualcomm, multinational semiconductor giants headquartered in Santa Clara, Calif. and San Diego, respectively. Qualcomm, with 13 investments, and Intel, with 11, were both outdone by GGV Capital. The global venture capital firm, also based in California, made a total of 43 investments in China's AI sector.

"Collectively, observed transactions involving U.S. investors totaled $40.2 billion invested into 251 Chinese AI companies," accounting for "37 percent of the $110 billion raised by all Chinese AI companies," according to the Georgetown report.

"Venture Capital firms need to do a better job performing their due diligence — maybe even engaging an independent third party vendor to conduct it," said DiOrio, who has been sounding the alarm on the threat from China for years.

"It's no secret that the CCP is alive and well in every aspect of the U.S. corporate structure, including academia," he said. "They continue to steal intellectual property globally and utilize it to strengthen their standing."