UPDATED 10:15 AM PT — Sat. June 30, 2018
A new study is raising concern over China’s growing influence in Silicon Valley.
Reports Friday say more than 20-venture capital firms have ‘close ties’ with the country’s ruling Communist Party.
Many of the start-ups focus on areas including cybersecurity, artificial intelligence and drone technology.
The fate of these firms now hangs in the balance, as Congress hammers out new legislation to limit the amount of foreign investments in U.S. companies.
This has led leaders in Silicon Valley to call on their peers to avoid taking money from Chinese-backed investors.