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The US is reviewing Benchmark’s investment into Chinese AI startup Manus
Title: US Reviewing Benchmark's Investment in Chinese AI Startup Manus for Compliance with China Sanctions
The US is reviewing Benchmark’s investment into Chinese AI startup Manus, according to unnamed sources cited by Semafor. The review is related to the 2023 restrictions on investing in Chinese companies, and the details of the assessment are not yet clear.
Benchmark, a leading global venture capital firm, is reportedly facing scrutiny over its investment in Manus AI, which raised $75 million at a half-billion-dollar valuation in a funding round led by the firm. Manus provides AI-based solutions for various industries.
The US has become increasingly concerned about China's growing presence in the technology sector, particularly in artificial intelligence. Espionage and the potential for China to use technology to advance military capabilities and undermine national security have spurred the U.S. government to crack down on such investments.
Last year, the U.S. Commerce Department added a series of Chinese AI companies to its 'Entity List,' restricting U.S. companies from investing in or selling technology to these companies. It is unclear whether Manus is on this list or if their technology has any direct national security implications.
Benchmark's decision to invest in Manus.ai was likely driven by the potential of AI technology to revolutionize various industries. AI is increasingly being used to tackle complex problems, from predicting healthcare costs to improving the efficiency of supply chains. However, the regulatory environment for these investments may become increasingly complex.
The review of Benchmark's investment by the U.S. Treasury Department underlines the ongoing tensions between the US and China as global rivals. This raises questions about the long-term viability of deals involving cross-border tech investments, particularly
Source: AI News & Artificial Intelligence | TechCrunch, Link
#AI #Startups #Benchmark #China #In Brief #Manus AI
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