Get the latest tech news

US venture capital firms accused of funding blacklisted Chinese AI companies — Sequoia, Qualcomm, Walden, GSV and GCR invested $3.1 billion in firms facilitating genocide

A House China Committee report alleged that at least five U.S. firms were helping fund Chinese AI and chip companies that supported domestic surveillance and oppression.

“The Committee’s findings suggest that there are billions of dollars beyond those captured in this report that have flowed into PRC companies that support the PRC’s military, digital authoritarianism, and efforts to develop technological supremacy and undermine American technological leadership,” the committee wrote in the report, referring to the People’s Republic of China. The report from the panel, which is led by Chairman Mike Gallagher, R-Wis. and ranking member Raja Krishanmoorthi, D-Ill., recommends “robust” sector-based restrictions on outbound investment in China, calling them “a national security and human rights imperative.” The committee also recommended passing legislation to “generally prohibit” companies from investing in Chinese firms that are under sanctions and “red flag” lists maintained by the U.S. government.

Get the Android app