• The Biden administration has forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI co-founder Sam Altman.
• The U.S. Treasury Department said that CFIUS is committed to taking all necessary actions within its authority to safeguard U.S. national security.
• The administration’s actions reflect the growing importance of artificial intelligence (AI) to national security.

The U.S. Treasury Department today reaffirmed its commitment to safeguarding U.S. national security by taking all necessary actions within its authority to review foreign investments in U.S. businesses and real estate.

This statement comes in response to recent reports that the Committee on Foreign Investment in the United States (CFIUS) has forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup. CFIUS is an inter-agency committee that reviews foreign investments in U.S. businesses and real estate that implicate national security concerns.

“CFIUS is committed to taking all necessary actions within its authority to safeguard U.S. national security,” said a Treasury spokesperson. “Consistent with law and practice, CFIUS does not publicly comment on transactions that it may or may not be reviewing.”

The Treasury spokesperson also noted that CFIUS is a “deliberative process” and that its reviews can take several months to complete. “We encourage parties involved in transactions that may implicate national security concerns to consult with CFIUS early in the process,” the spokesperson said.

The Treasury Department’s statement underscores the Biden administration’s focus on safeguarding U.S. national security in an increasingly competitive and interconnected world. The administration has taken a number of steps to strengthen national security, including expanding the scope of CFIUS review and increasing the resources available to the committee.

The administration’s actions reflect the growing importance of artificial intelligence (AI) to national security. AI is a dual-use technology that can be used for both good and bad purposes. In the wrong hands, AI could be used to develop autonomous weapons, cyberattacks, and other threats to U.S. security.

CFIUS is playing a critical role in ensuring that AI is developed and used in a responsible and ethical manner. The committee’s review of foreign investments in AI technologies is helping to protect U.S. national security and ensure that AI is used for good.

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