US firms pumping billions into China's AI sector

Chief national security correspondent Jennifer Griffin reports that the U.S. will only shoot down the Chinese spy balloon if officials can assure zero civilian casualties. U.S. investors were involved in at least 37% of all investment transactions in China's artificial intelligence, or AI, sector between 2015 and 2021, according to a new report. Georgetown University's Center for Security and Emerging Technology found that $40.2 billion of the total money raised by all Chinese AI companies over this time period had U.S. backing. However, the center couldn't determine what percentage of that amount came from U.S. investors or investors abroad. The money went to 251 Chinese AI companies, and 91% of the U.S. investment came as venture capital to earlier-stage businesses.