American Investors Are Bankrolling China In The AI Arms Race REPORT

U.S. institutional investors, including endowments, are indirectly financing Chinese artificial intelligence (AI) startups that are striving to become China’s versions of OpenAI, The Information reported. Chinese venture capital (VC) firms including Sequoia Capital China, Matrix Partners China, Qiming Venture Partners, and Hillhouse Capital Management, backed by U.S investors, are making deals with local AI startups, according to the Information. Between 2015 and 2021, 167 U.S. investors were involved in 401 investment transactions into Chinese AI businesses, based on available data in Crunchbase, according to the Center for Security and Emerging Technology (CSET). These transactions resulted in $40.2 billion flowing into…