US fines Amidi over investment without Treasury notification — South China Morning Post
The US Treasury Department has announced the first fine under rules governing US investments in sensitive Chinese technologies. According to the South China Morning Post, Amidi, LLC was fined $200,000 for failing to submit a mandatory notification regarding an investment in the Chinese company Noematrix.
Investment through a Chinese fund
According to the US Treasury Department, Amidi’s Chinese fund subsidiary invested approximately $92,478 on April 19, 2025, in Shanghai Qiongche Intelligent Technology Company Limited, a Shanghai-based company known as Noematrix. The fine was imposed in July and publicly announced on Wednesday. Its amount is more than twice the investment sum.
Amidi is the parent entity of the organization operating under the name Plug and Play Tech Centre. In announcements of its fundraising, Noematrix also mentioned Plug and Play China among its investors, as well as Prosperity7 Ventures, a fund managed by Aramco Ventures.
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Rules for sensitive technologies
The case became the first example of the application of the US Outbound Investment Security Program, which took effect in January 2025. It regulates certain US investments in Chinese companies operating in artificial intelligence, semiconductors, and quantum computing.
The program prohibits some transactions and requires notification to the US Treasury Department for others. Its requirements also apply to certain investments made through foreign entities controlled by US persons. The department stated that it identified the transaction during routine monitoring of compliance and the market.
The US Treasury Department classified Amidi’s violation specifically as a failure to submit notification of the deal. At the same time, the department did not describe the investment as prohibited and did not accuse Noematrix of wrongdoing. The company develops embodied artificial intelligence technologies for robots, including for logistics, household services, and the food industry.
