UK clamping down on foreign buyers snapping up AI and quantum firms - Business Insider

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The UK wants to clamp down on 'malicious' foreign buyers snapping up promising firms in areas like AI and quantum computing

The UK government is proposing strict new laws on foreign buyers hoping to take over British firms operating in sensitive industries such as artificial intelligence, quantum computing, and data.

The proposed measures would require foreign buyers in 17 key industries, including AI, quantum computing, autonomous robots, and data infrastructure, to check in with a newly-formed government department about their plans. The National Security and Investment Bill is expected to be tabled in Parliament on Wednesday, and it will need to pass several stages before it becomes law.

"We are taking a five-year retrospective power to call in transactions in the wider economy which were not notified to us but may raise national security concerns, both of which are similar to the powers under the French, German and Italian regimes," the government said in a statement. As well as preventing a future unicorn from being sold to the US, the measures are also thought to be designed to limit the potential for Chinese business interests.

 

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