Chinese Hackers Breach U.S. Agency Overseeing Foreign Investments

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Chinese hackers have reportedly breached the Committee on Foreign Investment in the U.S. (CFIUS), a crucial agency responsible for evaluating foreign investments for potential national security threats, CNN reported on Friday. The hack is part of a broader cybersecurity breach into the U.S. Treasury Department’s unclassified systems, according to sources familiar with the matter.

The breach’s timing was not specified, and neither the U.S. Treasury Department nor CFIUS provided immediate responses to inquiries from Reuters outside regular business hours. The incident raises concerns about the security of sensitive data related to foreign investments and national security assessments conducted by CFIUS.

 

Emirati Billionaire Sajwani Foresees Increased Gulf Investments into U.S. Under Trump’s Second Term

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Emirati billionaire Hussain Sajwani, founder of DAMAC Properties, predicts a surge in Gulf investments into the U.S. as President-elect Donald Trump begins his second term. Sajwani, a long-time business partner of Trump, announced plans to invest $20 billion in data centers across eight U.S. states, speaking at Trump’s Mar-a-Lago resort in Florida. The real estate mogul highlighted the pro-business policies of the incoming administration, which he believes will attract more foreign investments, particularly in sectors like artificial intelligence (AI) and technology.

Sajwani, whose firm owns the only Trump-branded golf course in the Middle East, stressed that Trump’s policies would foster a more favorable investment climate, aiding in future opportunities for growth in the U.S. Sajwani’s investments extend beyond real estate; he is also an investor in Elon Musk’s SpaceX and xAI. In December, Sajwani celebrated New Year’s with Trump and Musk, and he was invited to the presidential inauguration on January 20.

According to Forbes, Sajwani’s net worth stands at $5.1 billion. Trump’s business dealings with the Gulf are not limited to Sajwani; Trump-branded projects are also under construction in Saudi Arabia and Oman, and Gulf state-owned funds have investments in Jared Kushner’s firm.

As Gulf countries, particularly the UAE, ramp up investments in AI to become regional leaders, Sajwani’s DAMAC subsidiary EDGNEX plans to build and operate data centers with a 2,000-megawatt capacity across Texas, Arizona, Illinois, and five other states. Sajwani emphasized that favorable access to land, energy, and regulatory processes in the U.S. were key factors in the decision to focus on these locations. The data centers will be funded largely through debt, with DAMAC covering the remaining 30% from its balance sheet.

The proposed investment deal is expected to undergo scrutiny by the Committee on Foreign Investment in the U.S. (CFIUS), although Sajwani expressed confidence that the incoming administration would streamline regulatory processes to expedite the approval.

Musk Seeks Auction of OpenAI Stake Through State Attorneys General

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Elon Musk has asked the attorney generals of California and Delaware to facilitate an auction of OpenAI’s stake to establish the fair market value of its charitable assets during the company’s ongoing corporate restructuring. The request was made through a letter sent by Musk’s attorney, Marc Toberoff, on Tuesday, urging the states to implement a competitive bidding process to ensure the protection of public interests, as OpenAI works to distance its non-profit control.

Musk’s move comes amid OpenAI’s plans to convert into a public benefit corporation and separate its for-profit business from its charitable structure. OpenAI has stated that the valuation of its assets will be handled by independent financial advisors, despite Musk’s push for a more open bidding process.

Sam Altman, who co-founded OpenAI with Musk, helped propel the company into the limelight with the release of the ChatGPT AI tool in 2022. Backed by Microsoft, OpenAI was valued at $157 billion after raising $6.6 billion in investment. However, Musk, who owns the AI startup xAI, is challenging OpenAI’s conversion through legal means, arguing that it contradicts the original mission he had funded the company for. The court is expected to make a ruling later this month on Musk’s preliminary injunction.

In December, Delaware Attorney General Kathy Jennings filed an amicus brief, indicating her office’s scrutiny of OpenAI’s restructuring plans, while California’s Attorney General Rob Bonta has yet to make any public comments on the case. Musk’s legal efforts are supported by the AI safety group Encode, which has joined the push to block the transition, raising concerns about potential fiduciary violations.