Treasury said it penalized Amidi, LLC $200,000 for failing to notify it of a controlled foreign entity's April 2025 investment in Shanghai robotics firm Noematrix. The department said the penalty, issued in July, is the first civil penalty under the outbound investment program.
The US Treasury said on Wednesday that it had issued its first civil penalty under the Outbound Investment Security Program, fining Amidi, LLC $200,000 for failing to file a required notification.
Treasury said Amidi's Chinese fund subsidiary invested about $92,478 on 19 April 2025 in Shanghai Qiongche Intelligent Technology Company Limited, known as Noematrix, a private company that develops artificial intelligence, robotics and embodied intelligence. Amidi is the parent of the organization that does business as Plug and Play Tech Center. The program took effect on 2 January 2025.
The department said a US person must notify Treasury of certain investments by a controlled foreign entity if the same deal would be notifiable if the US person made it directly. The rules cover specified activity in quantum computing, artificial intelligence and semiconductors linked to China, Hong Kong and Macau. Treasury said the penalty was issued in July 2026 and announced on Wednesday.
Secretary Scott Bessent said the announcement underscored Treasury's commitment to investment-security measures that preserve US technological leadership and advance the administration's investment policy. The South China Morning Post reported that the fine was more than twice the size of the investment.
Treasury did not say in the release that the investment itself was prohibited, only that the required notification was not filed. No payment date or appeal status was given in the department's notice.
People Sentiments Neutral
- Scott Bessent said the penalty underscored Treasury's commitment to safeguarding US national security through investment-security measures.