US working on sanctions to stop investment in Chinese chip and AI companies

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US working on sanctions to stop investment in Chinese chip and AI companies
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The US government has confirmed that it is working on new rules and sanctions that could block Western companies from investing in Chinese chip companies and Artificial Intelligence (AI). The information was confirmed by Paul Rosen, an employee of the US National Treasury.

According to the monetary authority, Washington has even listed the rules to regulate in which scenarios investors can make financial contributions in Chinese “high technology” companies.

The intention is to financially suffocate those companies that may pose a threat to “national security”.

We are working to contain US investment that comes with know-how and experience for certain specific sectors and subsectors, such as advanced semiconductors, artificial intelligence and quantum computing.

Image/reproduction: Reuters.

In addition to confirming the development of the measures, the Treasury executive also made it clear that investors believe that it was a mistake for the Americans to invest in transferring capital to Chinese technology companies.

When asked by a senator about Huawei’s progress in the chip business, Rosen declined to go into detail but made it clear that the Commerce Department has been looking into the company’s situation.

Thea Rozman Kendler, representative of the Department, said that there are no plans to revoke the licenses granted for US companies to sell parts to the Chinese company.

We don’t have any projects at the moment, but we are in deep analysis of the issue.

There is currently no timetable for when the new restrictions will come into effect.

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