China Blocks SoftBank's $5.4bn Robotics Deal
China has told Japanese investor SoftBank that it will block its $5.4 billion takeover of ABB's robotics division, according to a report. The concern cited is sending data overseas for training artificial intelligence. SoftBank had reached an agreement and hoped for approval.
Context
Context: ABB is a Swiss-Swedish engineering group, and SoftBank is a Japanese investment firm. China has been tightening control over data leaving the country and over advanced AI technology, so cross-border AI deals now face closer scrutiny.
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