financetom
Business
financetom
/
Business
/
U.S. to soon curb AI investment in China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
U.S. to soon curb AI investment in China
Oct 21, 2024 8:46 PM

(Reuters) - U.S. rules that will ban certain U.S. investments in artificial intelligence in China are under final review, according to a government posting, suggesting the restrictions are coming soon.

The rules, which will also require U.S. investors to notify the Treasury Department about some investments in AI and other sensitive technologies, are derived from an executive order signed by President Joe Biden in August 2023 that focused on keeping American investors' know-how from aiding China's military.

The final rules -- which will restrict outbound investment to China in AI, semiconductors and microelectronics and quantum computing -- are now under review at the Office of Management and Budget, which in the past has meant they will likely be released within the next week or so.

"It looks to me like they're trying to publish this before the election," said former Treasury official Laura Black, a lawyer at Akin Gump in Washington. Black added that the Treasury office overseeing the regulations generally provides at least a 30-day window before such regulations go into effect.

The Treasury Department published the proposed rules and a raft of exceptions after an initial comment period following the executive order.

A spokesperson for the Treasury Department did not immediately respond to a request for comment.

Black expects the final rules to further clarify the scope of coverage over artificial intelligence and the threshold for limited partners.

The restrictions are part of an effort to prevent U.S. know-how from helping the Chinese develop sophisticated technology.

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 >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved