US sanctions Chinese venture firm in Google AI secrets case
The measures may include freezing their US assets and banking restrictions.
On October 20, the US government imposed sanctions on Shanghai Zhisuan Technology, a venture firm founded by Lu Qi, a former Microsoft AI scientist. The sanctions were issued due to alleged connections to a start-up accused of stealing technology from Alphabet’s Google. The US State Department attributed the measures to a law passed in early 2023, aimed at preventing the theft of US trade secrets.
The firm, established by Ding Linwei, a former Google software engineer convicted of stealing Google AI trade secrets in 2023, faced measures including freezing of US assets and banking restrictions. MiraclePlus, the successor to a Chinese program run by Silicon Valley’s Y Combinator, denied any investment in Zhisuan and claimed the sanctions were imposed without prior communication.
The company stated they are in discussions to have the sanctions lifted and expect resolution through "candid communication."
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