US-China tech war: basic research in AI, semiconductors and biotech gets closer to US$110 billion boost in US

  • The US Senate Commerce Committee authorised US$110 billion in spending over five years on basic research in several areas, including quantum computing
  • China’s 14th five-year plan calls for basic research spending to reach 8 per cent of total R&D expenditures, without specifying an amount of money

US President Joe Biden holds a chip as he speaks prior to signing an executive order aimed at addressing a global semiconductor shortage, in the State Dining Room at the White House in Washington on February 24. Photo: Reuters

The US Senate has cleared an effort by legislators to set up US$110 billion in technology funding for basic research, in a move that borrows a page from Beijing’s playbook amid continuing competition between the two countries.

The Senate Committee on Commerce, Science, and Transportation voted to approve the Endless Frontier Act on Thursday, which would see billions of dollars poured into basic research – the advancement of scientific theories that underpin applied technologies – over five years, in areas that include artificial intelligence, semiconductors, quantum computing, advanced communications, biotechnology and advanced energy.

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