US Accuses Chinese Memory Chipmaker, AI Firms of Aiding Military

Published on February 1, 2024

A screen demonstrates facial-recognition technology at the Beijing Megvii Co. booth at the MWC Shanghai exhibition in Shanghai, China in 2019. Photographer: Qilai Shen/Bloomberg

(Bloomberg) -- The Pentagon added China’s leading memory chipmaker and prominent players in AI, energy and automobiles to a list of companies it accuses of aiding the Asian nation’s military, expanding a roster intended to warn allies against potential national security threats.

The Department of Defense added Yangtze Memory Technologies Co. and facial-recognition firm Megvii to its so-called Section 1260H rundown. That list already includes major telecom and aerospace players as well as Huawei Technologies Co. and Semiconductor Manufacturing International Corp. — two companies at the heart of Beijing’s efforts to replace American technology.

Included on the latest list is Advanced Micro-Fabrication Equipment Inc., one of the country’s biggest suppliers of gear for chip production, and IDG Capital, a prolific private equity and venture capital investor that’s backed some of the highest-profile startups. 

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