China’s Military and Surveillance Capabilities Have Been Boosted by U.S. Funds, House Report Says
Report says five VC firms invested billions of dollars in companies developing technology allegedly used in human-rights abuses and by the Chinese army
Five U.S. venture-capital firms invested a total of at least $3 billion in Chinese companies developing technology allegedly used in human-rights abuses and to benefit the Chinese military and government, according to a congressional investigation.
A new report from the House Select Committee on the Chinese Communist Party looks at years of investment from venture-capital firms into artificial intelligence and semiconductor startups in China. Nearly two-thirds of the total invested by those firms, or $1.9 billion, went to AI companies whose technology is contributing to China’s military buildup and human-rights abuses, the report says. In some cases, the companies have been blacklisted by the U.S. government.