Republican lawmakers are in a furor after a U.S. government body approved the sale of intellectual property (IP) related to semiconductors to a company in China.
The Committee on Foreign Investment in the United States (CFIUS), which reviews national security implications of foreign investments in U.S. companies and operations, approved the sale of U.S.-based semiconductor IP developer OpenFive to Chinese-funded Alphawave IP Group.
Alphawave is financially backed by Wise Road Capital, a private equity firm based in Beijing with ties to the Chinese Communist Party.
“By failing to block this latest sale, the Biden Administration has yet again demonstrated its total unwillingness to take this threat seriously,” said Sen. Marco Rubio (R-Fla.) in a statement….