09:22 AM EDT, 05/02/2024 (MT Newswires) -- Huawei Technologies, the Chinese telecommunications company blacklisted by the US, is secretly funding research at US via an independent Washington-based foundation, Bloomberg reported Thursday, citing documents and people familiar with the matter.

Huawei is the sole funder of a research competition that has awarded millions of dollars since its 2022 inception, according to the report.

The competition is administered by the Optica Foundation, an arm of nonprofit Optica, whose members' research on light underpins technologies like lasers, biomedical diagnostics and communications, according to Bloomberg.

Neither Huawei nor Optica responded immediately to requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)