Green Bay Reporter

Last week, Wisconsin Rep. Mike Gallagher, Chairman of the Select Committee on the Chinese Communist Party, and Illinois Rep. Raja Krishnamoorthi, the Ranking Member of the Committee, sent letters to several venture capitalist firms. 

The letters were regarding their investments in People's Republic of China (PRC) companies, with a particular focus on technology and AI.   

"These venture capitalists have invested millions into PRC-based AI and semiconductor firms," said Rep. Gallagher, "We need to take a hard look at investments in sectors that are a strategic priority for the PRC because we know that the PRC leverages private companies for military and surveillance purposes."

The House Select Committee on the Chinese Communist Party (CCP) reached out to several U.S. Venture Capital Firms, including GGV Capital, GST Ventures, Qualcomm Ventures, and Walden International. 

"We’re concerned that some of the investments by these funds into China-based companies may aid the CCP in modernizing its military, building its techno-totalitarian surveillance state, and perpetuating serious human rights abuses – including the ongoing genocide against the Uyghur people," said Gallagher. "This is the beginning of a broader investigation."

The committee took this action in response to reports of the firms' investments in Chinese AI, semiconductor, and quantum companies. The investments made by American firms in these companies raise concerns, particularly in light of the advancements in AI technology that could potentially be used in instances of human rights abuse and for advancing military capabilities by the People's Republic of China (PRC), according to a press release.

"I can't believe that American companies, American venture capitalists actually funding our major adversaries' efforts in the area of artificial intelligence," said Florida Rep. Carlos Gimenez in an interview, according to Fox Business. 

"You know, chasing a buck is going to come back and bite you in the rear one day, and bite us all in the rear one day when we find ourselves under the boot of the Communist Chinese Party."

Gimenez took to Twitter last week to address the critical issue of the Artificial Intelligence race and its implications for the United States national security.

 Gimenez insinuated that losing the AI race to China could lead to severe consequences for America's national security, according to his Twitter post.

The competition for supremacy in the artificial intelligence sector has been ongoing for years, with the United States leading and China closely following as a strong contender. 

Nonetheless, the United States faces the possibility of lagging behind if necessary adjustments are not made. The recently released "National Security Scorecard" by Govini, available earlier this month, revealed that the U.S. is currently trailing China in 12 technology areas, according to National Defense.

“The American people do not want U.S. money and expertise enabling CCP advancements in the technologies that could undermine our national security or American values," said Krishnamoorthi, according to a press release. 

"They do want Congress working together to make sure Americans do not, in any way, fund the military aggression and human rights violations of a major competitor."