Qualcomm Ventures and Intel Capital were involved in 13 and 11 investments in Chinese AI companies, respectively, outpaced by GGV Capital, which led US firms with 43 total investments in the sector, the data showed.
The Biden administration is expected to unveil an executive order this year curbing some US investments in sensitive Chinese tech industries, as hawks in Washington blame American investors for transferring capital and valuable know-how to Chinese tech companies that could help advance Beijing’s military capabilities.
According to the report, US investor GSR Ventures invested alongside China’s iFlyTek Co Ltd in a Chinese AI company after the speech recognition firm was added to a trade blacklist. Silicon Valley Bank and Wanxiang American Healthcare investments group made investments in Chinese AI firms alongside China’s SenseTime before the powerhouse in facial recognition technology was added to the same trade blacklist.
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Both companies were added to the blacklist, which effectively bars them from receiving US tech exports, in 2019 for alleged human rights violations related to the repression of Uygur Muslims.
Some of the largest investments include Goldman Sachs’ solo investment in 1KMXC, an AI-enabled robotics company, as well as an investment by three US-based VC firms in Geek+, an autonomous mobile robot company, the report showed.
Only one Chinese AI company that received funding from US investors is involved in developing AI applications for military or public safety uses, according to CSET.
