US Should ‘Immediately’ Cut Off Flow of American Capital to Chinese AI Firms, Rep. Gallagher Says

The United States should immediately stop funding Chinese companies that are developing artificial intelligence ( AI ), the technology that is causing global transformation and disruption, according to Rep. Mike Gallagher( R-Wis. ), House chairman of the Select Committee on Strategic Competition.

Gallagher, a combat veteran of the U.S. Marines who has led the charge in publicizing and advancing legislation to eliminate the threat that China and its ruling Chinese Communist Party ( CCP ) pose to the United States, is calling for the closure of this financial pipeline because some of America’s’s largest and most influential venture capital firms — either directly or indirectly— are investing heavily in Chinese AI businesses.

The interpreter also makes this request because prominent figures in business and thought, including technology tycoon Elon Musk, Steve Wozniak, and Evan Sharp, co-founder of Pinterest, have publicly called for a halt to AI advancement due to the risks and consequences it entails if it is not checked and controlled.

Gallagher wrote in a speech he sent to The Epoch Times,” While we have recently witnessed revolutionary advancements in artificial intelligence in America, we are still at odds with the Chinese Communist Party when it comes to this crucial technology, which could determine political hegemony in the 21st century.”

We know that the CCP will use this concept to further control their own residents and trade their style of techno-totalitarian control around the world, even though there are still serious concerns about the proper safeguards to put in house around AI in America. The most obvious course of action is to immediately stop American wealth from flowing to Chinese AI business.

Tiger Global Management, Silver Lake, and IDG Capital are three well-known American-based venture capital firms with a global reach that fund businesses in the Foreign AI business. Chinese AI businesses are supported by Sequoia Capital China, a Silicon Valley-based affiliates of the same company. The Chinese venture capital firms Qiming Venture Partner and Matrix Partners China, which have bet in the China AI business, are funded with funding from America.

Gallagher remarked,” Absolutely Sequoia can find many ways to make money than financing the end of freedom.”

The CCP and AI Threat

Members of Congress from both parties are raising the alarm about the risk of the US funding AI development in a nation ruled by the Chinese Communist Party ( CCP ), which is the United States’ main rival and is behaving more menacingly toward its Pacific neighbors.

Additionally, the CCP monitors and eavesdrops on its members using AI.

China must lead the world in AI by 2030, according to a regional goal it has set.

The Biden administration has been preparing an administrative arrangement that could soon be issued to reduce and tighten restrictions on American investment in weaponized Chinese systems.

China’s’s connection to computers used in arms systems and technologies for human use was restricted last October by rules imposed by the Biden administration through the Bureau of Industry and Security of the Commerce Department.

From October 2021 through August 2022, the Special Competitive Studies Project (SCSP), a private foundation located in Arlington, Virginia, conducted interviews and discussions with “225 experts, including government officials, technologists, academic leaders, and many others,” to produce a research report, “Mid-Decade Challenges to National Competitiveness,” which focused on the U.S.–China faceoff and which gave considerable attention to the competition between the two countries for AI superiority.

The environment that the Special Stud is in is mirrored by two events that are currently influencing the global security environment.