US Tech Firms Blocked from Building in China for 10 Years; Microsoft Backs Kalanick’s CloudKitchens

In today's ExchangeWire news digest: the US bans tech firms from building in China for the next 10 Years; Microsoft backs controversial entrepreneur Travis Kalanick’s CloudKitchens startup; and tech firms in South-east Asia launch the region's first anti-counterfeit consortium.


US bars tech firms from building facilities in China

American Tech companies in receipt of federal funding will be unable to build “advanced technology” facilities in China for the next decade, according to the Biden administration.

The ban falls under the US government’s USD$50bn (£43bn) plan to bolster the country’s semiconductor industry as the nation struggles against a global microchip shortage. The move is Washington’s latest crackdown on tech firms’ ability to trade with China; just last week, tech giants Nvidia and AMD saw their shares drop as the government announced mandatory new licenses to sell AI chips to China. 


Microsoft invests in Uber-founder’s latest venture

Microsoft has invested in CloudKitchens, the “dark kitchen” start-up led by Uber co-founder and former CEO Travis Kalanick. The funding from Microsoft has enabled the startup to supercharge its global expansion, increasing its workforce to 4,000 across the US, Latin America, the UK, and the Middle East.

The tech giant previously funded around USD$100m (£86m) in Uber back in 2015, however Microsoft is one of few companies to invest in Kalanick’s newest venture, as the entrepreneur’s exit from Uber in 2017 was marred by ethical scandals and management failings.


Lazada, HP, and more launch South-east Asia's first anti-counterfeit group

Tech giants in South-east Asia have banded together to tackle fraud in e-commerce. The South-east Asia e-Commerce Anti-Counterfeit Working Group launched on Wednesday (7th September) as the region’s first e-commerce anti-counterfeiting syndicate. 

Businesses involved include AliExpress, Lazada, and HP. All members are committing to collaborating with stakeholders to combat the sales of counterfeit goods online, in addition to supporting each other in protecting consumers and intellectual property rights.


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Fact of the Day

USD$2.7bn (£2.3bn) - the net worth of Uber co-founder Travis Kalanick as of September 2022.

Source: Forbes