CHINA/US – The China Investment Corp. (CIC) has partnered with chip maker Intel to invest in technology innovation, Intel said.
CIC and Intel's investment management arm Intel Capital, will invest "in pioneering companies across a wide array of technology sectors including cleantech, software and services, mobility and digital home", Intel said in a release.
The two investors will target companies outside of China, but Intel did not provide details regarding the amount of capital to be invested.
President and chief investment officer of CIC Gao Xiqing said: "China Investment Corporation believes that technology is critical to economic and societal growth. We look forward to working with Intel Capital to identify the next generation of ground breaking technologies."
The CIC provided a glimpse into its investments last week when it revealed in a filing with the Securities and Exchange Commission that it invests about a quarter of its US-listed assets in exchange traded funds. (Global Pensions; February 10, 2010)
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