China is requiring government approval for U.S. investment in Chinese AI companies |
China is requiring government approval for U.S. investment in Chinese AI companies
The move follows Meta's $2 billion acquisition of AI startup Manus, which triggered a Beijing probe into foreign investment and tech exports
China's government has told several of the country's top AI companies they must obtain explicit government approval before accepting U.S. capital in funding rounds, according to Bloomberg. The guidance, relayed to a number of private companies over the past several weeks, came from the National Development and Reform Commission and instructs those firms to seek government sign-off before taking on any American capital, Bloomberg reported.
AI startups Moonshot AI and StepFun were among the companies that received the instructions, according to Bloomberg. ByteDance, whose TikTok app has made it the most valuable private company in China, was........