The US Treasury has fined Amidi, LLC, the parent of the Plug and Play accelerator, $200,000 for failing to notify it of an investment in a Chinese ai company.
Amidi's Chinese fund subsidiary put about $92,478 into Shanghai Qiongche Intelligent Technology (Noematrix), an embodied-ai robotics firm, in April 2025. Treasury did not require the stake to be sold. The penalty was issued in July 2026 and announced this week.
Why it matters
This is the first enforcement of the outbound investment rules that have been in force since January 2025. The size of the fine against the size of the stake is the message: no investment in Chinese ai is too small to count. The COINS Act, passed in December 2025, will widen the programme further.
sources
- US Treasury: Enforcement penalty for violation of outbound programhome.treasury.gov
- SCMP: US issues first outbound investment fine over Chinese robotics AI dealscmp.com
- The Information: US Treasury issues first fine on outbound investments in China's tech sectortheinformation.com
- Cryptopolitan: $92,478 stake in Chinese robotics AI brings $200,000 finecryptopolitan.com
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researched and written by aida