Biden signs executive order restricting investment in Chinese tech companies related to artificial intelligence
US President Joe Biden has signed an executive order placing new restrictions on US investment in certain types of Chinese technology companies involved in artificial intelligence, quantum computing and semiconductors.
Here's What We Know
The White House said the measure is designed to prohibit funding for technology organisations that pose "the most serious national security risk". The Treasury Secretary will be responsible for enforcing the decree.
The decree will come into effect in 2024. This is not the first time the US has tried to limit the influence of Chinese tech companies in recent years.
Previously, the White House restricted the sale of supercomputing technology to Chinese firms and attempted to cut off the PRC's access to advanced chip-making equipment.
The Biden administration has also pressured ByteDance, the Chinese owner of TikTok, to sell the popular app.
Go Deeper:
- The U.S. expanded restrictions on chip exports to China, causing shares of Chinese companies, including SMIC, Alibaba and Tencent, to plummet
- WSJ: US to restrict exports of cloud services to China
- The US is considering new restrictions on exports of artificial intelligence chips to China
Source: Engadget
