Press Releases

The Committee on Foreign Investment in the United States (CFIUS) approved the sale of U.S.-based semiconductor IP developer OpenFive to Chinese-funded Alphawave IP Group. Alphawave, which touts its extensive business in China, is backed by Wise Road Capital, a Beijing-based private equity firm propped up by the Chinese Communist Party. 
 
U.S. Senator Marco Rubio (R-FL), who requested a CFIUS review of the sale in April 2022, slammed the decision.
 
  • "The Biden Administration is failing the American people. Faced by a crippling inability to produce its own cutting-edge tech R&D, China is making an aggressive play to buy and steal U.S. IP.

  • “By failing to block this latest sale, the Biden Administration has yet again demonstrated its total unwillingness to take this threat seriously. American competitiveness will suffer in the long term as a result." — Senator Rubio