"Lawmakers Uncover $1 Billion American Investment in Chinese Semiconductor Industry"

A congressional investigation revealed that five American venture capital firms invested over $1 billion in China's semiconductor industry since 2001, contributing to the growth of a sector now considered a national security threat by the United States government. The investments included funds directed to Chinese companies supporting Beijing's military, and the report comes amid heightened restrictions on U.S. financing for Chinese technology sectors imposed by the Biden administration.