The U.S. Department of Commerce will prevent the sale of some advanced AI chips to China, a move welcomed by a partner at a Chinese investment fund.
Chloe Wang, a partner and vice-president at the Guangzhou-headquartered Yang Cheng Fund, welcomed the news that the U.S. will ban the export of certain types of artificial intelligence chip to China.
The Yang Cheng Fund invests in semiconductor companies that make chips for the AI training and autonomous vehicle sectors, among others.A partner at a Chinese semiconductor investment fund has welcomed the U.S. government's ban of certain advanced chip types to be exported to China, describing the move as "great news" which may stimulate a domestic ecosystem.
Wang said the fund invests in semiconductor companies, including those in the AI training and autonomous vehicle sectors. One AI chip company Yang Cheng has invested in will launch its initial public offering this year, while a Shanghai-based AI chip firm is valued at more than $3 billion, Wang added, though she didn't name the firms.
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