The US Treasury has imposed a $200,000 fine on Amidi, LLC, the parent entity of venture capital firm Plug and Play Tech Centre, for failing to report an investment in a Chinese robotics artificial intelligence company. The department announced the action on Wednesday as its first penalty under rules governing American investment in sensitive Chinese technologies.
Amidi’s Chinese fund subsidiary invested approximately $92,478 in Shanghai Qiongche Intelligent Technology Company Limited, known as Noematrix, on April 19, 2025. The company develops embodied AI, software and models designed to help robots understand their surroundings and carry out physical tasks. Its listed applications include logistics, household services and food processing.
Amidi did not report the transaction to the Treasury as required. The department said it found the investment through regular compliance and market monitoring.
The penalty was issued in July and announced on Wednesday.
The Outbound Investment Security Programme took effect in January 2025. It covers certain US investments in Chinese artificial intelligence, semiconductor and quantum computing businesses. The rules prohibit some transactions and require Treasury notification for others.
Scott Bessent, the US Treasury Secretary, said the announcement underscored the department’s commitment to protecting US national security through investment security measures. Christopher Pilkerton, assistant secretary for investment security, said the programme addressed advances in key technologies by countries of concern that could pose national security risks.
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