financetom
Business
financetom
/
Business
/
Update: Microsoft's $1.5 Billion Investment in G42 Stirs Concerns Among US Lawmakers Over China Ties
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: Microsoft's $1.5 Billion Investment in G42 Stirs Concerns Among US Lawmakers Over China Ties
Jul 12, 2024 9:07 AM

11:36 AM EDT, 07/12/2024 (MT Newswires) -- (Updates with the response from Microsoft ( MSFT ) in the fifth paragraph.)

Microsoft's ( MSFT ) $1.5 billion investment in UAE-based artificial intelligence firm G42 could be an avenue for sharing sensitive US-origin technology to China, Republican lawmakers said Thursday in requests to the Biden administration for an intelligence assessment on the partnership.

Representatives Michael McCaul, chair of the House Foreign Affairs Committee, and John Moolenaar, chair of the House Select Committee on the Chinese Communist Party, asked in a letter to the White House for a US assessment of G42's ties to China's Communist Party, military and government before letting the Microsoft ( MSFT ) deal advance.

"We remain deeply concerned by attempts to move quickly to advance a partnership that involves the unprecedented transfer of highly sensitive, US-origin technology, without Congressional consultation or clearly defined regulations in place," the lawmakers wrote.

They said that G42 and its affiliates have active links with China-linked entities, including those "working to evade US sanctions and export controls."

"We're working closely with the [National Security Council] and Department of Commerce, and US national security will continue to be a principal priority," a Microsoft ( MSFT ) spokesperson said in a statement emailed to MT Newswires on Friday.

G42 did not immediately respond to MT Newswires' request for comment.

Price: 454.65, Change: -0.05, Percent Change: -0.01

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Affirm Supercharges US Retail With Expansion Of J.P. Morgan Payments Partnership
Affirm Supercharges US Retail With Expansion Of J.P. Morgan Payments Partnership
Mar 25, 2025
Affirm Holdings Inc ( AFRM ) announced on Tuesday the expansion of its multi-year agreement with JPMorgan Chase ( JPM ) & Co.’s J.P. Morgan Payments unit, further integrating Affirm’s pay-over-time solutions into the bank’s Commerce Platform. This collaboration allows U.S. merchants within the J.P. Morgan Payments network to offer Affirm’s flexible, transparent financing options at checkout, making it easier...
Trump pick to run Social Security says he will review DOGE actions
Trump pick to run Social Security says he will review DOGE actions
Mar 25, 2025
* Nominee Bisignano says he will review SSA computer systems * Bisignano said he could reverse DOGE actions at SSA if inappropriate * Bisignano said artificial intelligence could help the agency deliver services (Adds more details from the hearing, call with SSA staffers throughout) By Tim Reid and Nathan Layne March 25 (Reuters) - U.S. President Donald Trump's nominee to...
Market Chatter: ArcelorMittal Placed Under Judicial Supervision for Industrial Pollution
Market Chatter: ArcelorMittal Placed Under Judicial Supervision for Industrial Pollution
Mar 25, 2025
12:38 PM EDT, 03/25/2025 (MT Newswires) -- ArcelorMittal ( MT ) has been placed under judicial supervision for allegedly causing environmental harm from industrial pollution at its Fos-sur-Mer site in France and forgery, Reuters reported Tuesday, citing the Marseille public prosecutor's office. According to an emailed statement to the news outlet, the prosecutor's office said the steelmaker was subject to...
Shell CEO Sawan expects progress in Venture Global arbitration in coming months
Shell CEO Sawan expects progress in Venture Global arbitration in coming months
Mar 25, 2025
March 25 (Reuters) - Shell CEO Wael Sawan said on Tuesday he expects to have updates from the arbitration process with Venture Global ( VG ) in the coming months. Venture Global's ( VG ) failure to move to commercial operations years after it started selling superchilled gas on the spot market led to contract arbitration cases brought by some...
Copyright 2023-2026 - www.financetom.com All Rights Reserved